Analysts said the devaluation should improve the Horn of Africa nation’s trade deficit.
Figures for fiscal year 2010 show a $7 billion deficit, based on $8.7 billion in imports and $1.7 billion dollars in exports.
Voice of America Peter Heinlein | Addis Ababa Ethiopia has sharply devalued its currency – the birr – in a bid to boost economic growth.
The move was welcomed by economists, though it may have the side effect of fueling inflation.
The group is credited for popularizing Amharic classics such as – all of which were written by the artist.