Job offersmore »
- National Nursery Manager - Melbourne, Australia
- Lighting Applications Specialist (Horticulture) - Beamsville, Ontario, Canada
- Gärtner für den konventionellen Gemüsebau - Austria
- Expert vegetable farm manager/master grower seeking for his next position
- Horticulture Advisor - The Hague, the Netherlands
- Growing Manager - Victoria, Australia
- Service Engineer - Almeria, Spain
- Horticultural Consultant - Sydney, Australia
- Technical Assistant - East Malling (Kent), UK
- Greenhouse Controls Technician - Australia
Last commentsmore »
- India: Government gives 50% subsidy on a poly house (828)
- Will sea freight be an alternative to Latin American air freight? (7)
- "25% annual production growth Mexican phalaenopsis" (2)
- Preview FlowerTrials 2017: Novelties highlighted (1)
- India: The story of KF Bioplants (1)
- "Nursery industry shines at blossoming international floriculture trade" (1)
- "Horticulture in Iran can be an alternative to petroleum" (5)
- Netherlands 50 million stems a year at V.d. Berg Roses (1)
- Update from Dümmen Orange infected begonia cuttings (1)
- US: Congressman visits florist (1)
Top 5 - yesterday
Top 5 - last week
Top 5 - last month
Exchange ratesmore »
Ethiopia's central bank devalues currency by 15 percent
Ethiopia’s central bank devalued the Ethiopian birr by 15 percent on Tuesday, its first such move in seven years to boost lagging exports.
Reuters reports that the birr was quoted by the National Bank of Ethiopia at a weighted average of 23.4177 against the dollar on Monday, compared to what will be 26.9215.
“The devaluation was made to prop up exports, which have stagnated the last five years owing to the birr’s strong value against major currencies,” Yohannes Ayalew, the bank’s vice governor, told a news conference in the capital Addis Ababa.
The International Monetary Fund (IMF) and the World Bank, have both repeatedly urged Ethiopia to consider devaluing its currency to boost exports as they are mostly unprocessed products and need to stay competitive on price.
Ethiopia's total export revenue has been falling short of targets for the last few years owing to weaker commodity prices. Addis Ababa earned $2.9 billion in the 2017-2018 fiscal year, versus a target of $4 billion.
Publication date: 10/11/2017
Other news in this sector:
Leave a comment: (max. 500 characters)
- All comments which are not related to the article contents will be removed.
- All comments with non-related commercial content, will be removed.
- All comments with offensive language, will be removed.