Ethiopia: Ethiopia’s Central Bank Signals Crackdown Against Informal Forex Market, Warns of Confiscation

[Addis Standard] Addis Abeba -- The National Bank of Ethiopia (NBE) has issued a strong warning to the business community and members of the diaspora to stop using the informal foreign exchange market, as part of a broader effort to "stabilize" the country's financial system and curb illegal currency flows. The announcement stated enforcement actions by the bank, including threats of asset confiscation and international coordination against foreign-based money transmitters.

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