EKN tightens Ethiopia policy by closing long-term bank risks

The country policy for Ethiopia is further tightened by EKN completely closing long-term bank risks. The lack of progress in terms of government finances and the still severe hard currency shortage justify the decision. In recent years, there has been no demand for long bank risks and there are therefore no outstanding offers.

However, EKN also continues to cover short letters of credit. Despite the hard currency shortage, payments in short confirmed and unconfirmed letters of credit work largely without problems. Only occasional shorter delays have occurred in the past year.