NBE to tighten money supply Increases reserve ratio to 15%

By Groum Abate

Ethiopia’s central bank announced Friday it is raising the required reserve ratio for commercial banks by half a percentage point as of March 21, to 15 percent.
This increase, the second this year, comes a month after the ratio was raised by half a percentage point in the last few months from 5 to 10 percent.
The National Bank of Ethiopia (NBE) introduced the new directive on the amount of money banks are required to hold in reserve and on the ratio of liquidity requirement.

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‘Ethiopia should take Country Reports on Human Rights seriously’Ambassador Yamamoto

By Kirubel Tadesse

US Ambassador to Ethiopia, Donald Yamamoto, said that the Country Reports on Human Rights Practices 2007 report on Ethiopia is accurate and Ethiopia should take it very seriously.
In an exclusive interview Ambassador Yamamoto gave Capital on Friday, March 21, 2008, he explained that the congressionally mandated annual report of the Bureau of Democracy, Human Rights, and Labor of the US Department of State, doesn’t designate Ethiopia among the worst countries category, as ‘a country of concern’, but it is very reliable on its report of the last three years in Ethiopia.

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Tax lift on food costs gov’t over 350mln birr

By Tedla Yeneakal

The lifting of the Value Added Tax (VAT) and Turn Over Tax (TOT) on food grains and flour costs the government approximately 350 million birr; earnings the Ministry of Revenue (MoR), would have collected if the taxes had stayed in force for the six months of the remaining fiscal year, according to a study conducted by a team from the Ministry of Revenue.
Zeru Gebre Selassie, head of tax reform at the MoR, told Capital that the study indicates the stated sum in non-collectible tax revenues falls within the range of 350-400 mln birr.

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