Story perspectives

Ethiopia's Birr Stabilizes as Gold Exports Surge

10/23/2025

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Summary

Story summary

Ethiopia's birr is set to recover after losing nearly two-thirds since the July currency flotation.
Gold exports rose to a record $3.5 billion, surpassing coffee exports at $2.65 billion.
The rise in gold production follows the Midroc Gold Mine's resumed operations and better payments to small-scale miners.
The government pursues International Monetary Fund (IMF)-backed reforms to stabilize the economy, including liberalizing the foreign-exchange market and curbing inflation.

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Story summary

Ethiopia's birr is set to recover after losing nearly two-thirds since the July currency flotation.
Gold exports rose to a record $3.5 billion, surpassing coffee exports at $2.65 billion.
The rise in gold production follows the Midroc Gold Mine's resumed operations and better payments to small-scale miners.
The government pursues International Monetary Fund (IMF)-backed reforms to stabilize the economy, including liberalizing the foreign-exchange market and curbing inflation.