Ethopia: Gov’t Pulls Plug On Franco Valuta Imports; Sets Two-week Deadline To Finalize Ongoing Transactions

Addis Abeba – The Ethiopian government has officially banned the importation of goods using Franco Valuta, effective immediately.

A letter signed by Finance Minister Ahmed Shede on November 7, 2024, outlines that importers have a two-week grace period to finalize their ongoing transactions through Franco Valuta.

The letter explains that the temporary allowance for imports through Franco Valuta was intended to support macroeconomic reforms and mitigate potential challenges during the transition…