Ethiopia has begun circulating new currency notes to combat monetary crimes. Prime Minister Abiy Ahmed announced Monday the release of the birr in denominations of 10, 50 and 100. Ahmed hopes the new currency will also boost the inflation riddled economy impacted partly by the coronavirus pandemic. Banks had urged the government to demonetize, citing money circulating outside the banking system has worsened the liquidity problems banks are facing. Ethiopia last changed its currency two decades ago at the end of the Ethiopian-Eritrean civil war.

Source: Ethiopian News September 22, 2020 05:48 UTC