ESAT: Wegagen Bank Sitting on Stash of Hard Currency

24 September 2012 [ESAT News]

While private and government banks are suffering from a recurrent shortage of foreign currency, Wegagen bank is providing foreign banking services to its customers.

Though IMF country officials announced the availability of enough foreign currency for up to two months of import transactions in the country, most banks including the state owned Commercial Bank of Ethiopia have almost suspended the provision of letter of credit services.

Read full story at [ESAT]