Ethiopia Compels Private Banks to Buy Bonds to Fund Development
This article is for subscribers only.
Ethiopia will compel private lenders to purchase government bonds equivalent to 27 percent of their annual loans to help fund development in the country, a central bank official said.
A policy directive has been issued to ensure banks provide funds for long-term infrastructure projects, National Bank of Ethiopia Deputy Governor of Monetary Stability Yohannes Ayalew said in an interview yesterday in Addis Ababa, the capital.