Ethiopia's reserves down 19.1%

Ethiopia's reserves down 19.1%
Posted Wed, 28 Jun 2006
Addis Ababa – Ethiopia’s foreign currency reserves have dropped by 19.1 percent in the current fiscal year, said a finance ministry report.
The ministry of finance and economic development said that current reserves of $1.2bn could cover the country's imports of goods for three months.
The report said that the decrease was due to rising crude oil prices. Reserves grew by 4.2 percent in 2004 and 8.1 percent in 2005.
BiA Online