Ethiopia has ordered banks to deny foreign currencies to businesses importing non-priority goods, in an effort to shore up dwindling foreign reserves.
The move effectively freezes the import of some 40 products such as alcohol and cars, wall clocks, umbrellas, carpets and soaps, alcohol, perfumes and cigarette.
Businesses must register with banks to obtain the foreign currency needed to bring goods into the country.
The Ministry of Finance said it had become necessary to restrict the use of foreign currency to importing food, medicine and medical equipment, and raw materials for manufacturing.
Source: Mybrytnewsroom.com
