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Payments and market infrastructure development – wholesale: National Bank of Ethiopia

The East African central bank has implemented a major overhaul of Ethiopia’s core financial infrastructure

Ethiopia team
The team at the National Bank of Ethiopia

The National Bank of Ethiopia (NBE) has shifted the country towards toward an interest rate-based, inflation-targeting monetary policy and transitioned towards a market-based foreign exchange regime since 2024. As a result, it needed to oversee a major upgrade to some of the country’s key financial market infrastructure. This included the introduction of a new central securities depository (CSD) to enhance open market operations, the treasury market and capital market initiatives. It also

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