Ethiopia’s central bank governor, Mamo Mihretu, said on Wednesday he was leaving government after a tenure that redefined the country\u2019s financial sector through bold reforms, including floating the birr, opening the banking industry to foreign competition, and launching the first securities exchange in decades.<\/p>\n
Mihretu, who was appointed in\u00a0January 2023 by Prime Minister Abiy Ahmed, confirmed his departure in a farewell letter on Tuesday, saying the time had come to \u201cpursue other passions and tackle other challenges.\u201d<\/p>\n
In his letter, Mihretu credited Abiy Ahmed\u2019s leadership and said he was \u201cgrateful for the opportunity to serve as a longstanding member of Ethiopia\u2019s macroeconomic team that helped design and lead the Home-Grown Economic Reform Program.\u201d<\/p>\n
Mihretu pointed to measurable progress under his watch, such as Foreign currency reserves tripled, reaching record highs;\u00a0 Inflation fell to its lowest in seven years, projected at\u00a0~10% in FY2025\/26, the lowest in a decade;\u00a0The\u00a0financial sector\u2019s assets surpassed 5 trillion birr, reflecting accelerated growth in banking activity.<\/p>\n
\u201cThese and other historic achievements of the government are nothing short of remarkable,\u201d he wrote, thanking NBE staff for their professionalism and dedication.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethiopia’s central bank governor, Mamo Mihretu, said on Wednesday he was leaving government after a tenure that redefined the country\u2019s financial sector through bold reforms, including floating the birr, opening the banking industry to foreign competition, and launching the first securities exchange in decades. Mihretu, who was appointed in\u00a0January 2023 by Prime Minister Abiy Ahmed, […]<\/p>\n","protected":false},"author":1,"featured_media":17675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters + Addis Insight","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[114,4381],"class_list":["post-17674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-ethiopia","tag-mamo-mihretu"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/17674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=17674"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/17674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/17675"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=17674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=17674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=17674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}