Cash Shortage in Ethiopia: 90,000 Birr Sold for 100,000 Birr
A cash shortage in Ethiopia, particularly in Benishangul-Gumuz, has led to illegal trading, with 90,000 Birr being sold for 100,000 Birr. Banks are limiting withdrawals to 500 Birr per person daily, exacerbating the crisis.
"90,000 Birr is being sold for 100,000 Birr in Ethiopia, it has been reported."
In the Benishangul-Gumuz region, the expansion of illegal trade and the shortage of cash have led individuals with cash on hand to start selling it at a premium, it has been stated.
As an example, it has been reported that 90,000 Birr is being sold for 100,000 Birr, according to Dagu Journal.
Banks have also stated that an individual cannot withdraw more than 500 Birr per day.
Mebratu Alemu, a member of the House of People's Representatives and head of the political affairs office for the Boro Democratic Party, noted the cash shortage in banks and the spread of illegal trade during a public discussion held in his electoral district while visiting the zone.
The public representative also mentioned that the high cost of living in Benishangul-Gumuz has worsened, adding, "We have observed this during our public discussions.
Sources
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