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Ethiopia moves to cut dollar dependence in trade shift

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  • Addis targets multi-currency deals to ease dollar dependence
  • Currency swap with UAE supports trade diversification

ADDIS ABABA, ETHIOPIA – Ethiopia is moving to expand its international trade settlement options beyond the U.S. dollar, the Ministry of Finance said Friday, as the country seeks to reduce currency risk and strengthen bilateral trade ties. Officials say agreements have already been reached with several countries to facilitate transactions in local currencies.

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