Addis Ababa – Amid soaring inflation and commodity shortages in Ethiopia, the Ministry of Finance has issued a directive allowing importers of essential foodstuffs such as oil, wheat, sugar, infant milk and rice to use Franco-Valuta privileges without waiting for foreign exchange permits and import their items directly through the Customs Commission.
In April last year, Ethiopia already allowed individuals with US$250,000 to use franco-valuta to import food consumables such as cooking oil, wheat, rice, milk and flour by verifying the source of foreign currency with the National Bank.
The ministry statement this morning says Ethiopians in the Diaspora are calling on the government to expedite Franco Valuta licensing taking into account current inflation and to enable more Ethiopians living abroad to play their part .
Accordingly, the Ministry has indicated that to comply with a letter dated December 20, 2020 from the Ministry of Finance relating to the implementation of taxation, the implementation of the directive authorizing the Franco-Valuta privileges will be closely monitored. by the parties concerned. AS