The Habesha
By Dylan GAMBA In a modest clothing boutique located in the capital of Ethiopia, Medanit Woldegebriel has witnessed a near doubling of her dress prices over the last two months, resulting in a significant decline in customer traffic. “Sales have decreased considerably,” acknowledges a despondent Woldegebriel, whose establishment is situated within the extensive Merkato market of Addis Ababa, where she sources garments from Turkey and the United Arab Emirates. On July 30, Ethiopia made the difficult choice to allow its currency to float freely against the dollar, leading to an immediate depreciation of the birr by one-third. The depreciation of
The Habesha Ethiopian News
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#Ethiopias #Currency #Reform #DoubleEdged #Sword #Affecting #Economic #Stability
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