PM Abiy Called Foreign Currency to be Deposited in Banks

Addis Ababa July 16/2018  Prime Minster Abiy Ahmed has called for those who have foreign currency in their hand to deposit into the bank in few days. Stating that the country is importing large sum of money to address the shortfall of foreign currency, the Premier called those who accumulated money to deposit in banks starting from today on. The Prime Minister said the government is working to enhance reserves to offer a dependable foreign currency. The government put in place directions to control the adverse impact of illegal accumulation on foreign currency reserves. However, there are a number of individuals who still amass huge amount of foreign currency in their hands, he said. In few days a nationwide operation would be carried out to avert illicit amassing and trafficking of foreign currency, the Premier alerted. Prime Minister also called upon those who accumulated the foreign currency to put down without delay to banks or exchange it in a legal way before going to bankruptcy. He pointed out that banks are ready to offer flexible service to those who are willing to deposit their foreign currency. It was learned that Prime Minister Abiy in his discussion with local business communities recently that a foreign-currency crisis that face the country could last two decades. Currently his government is taking various austerity measures to curb the foreign currency deficit in as much as short period, which the call is part of the endeavors.