The Governor of the National Bank of Ethiopia (NBE) has issued a severe warning to borrowers to pay their debts that have been disregarded due to the war and Covid-19, according to The Reporter.
Dr. Yinager Dessie, the Governor of Ethiopia’s National Bank, said in a statement on the present circumstances that banks are having difficulty lending due to the country’s current condition. He pointed out that, while banks have been effective in many ways, there have been issues with loan and deposit collection. The National Bank of Ethiopia (NBE) will take action, and banks have been told to come up with their own methods so that they can recover debts properly.
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