Ministry permits import of foods on Franco Valuta privileges

Ministry of Finance (MoF) has issued on Saturday, April 9, 2022 a directive allowing importers of essential food stuffs such as edible oil, wheat, sugar, baby milk and rice to use Franco-Valuta privileges without waiting for foreign exchange permits and import their items directly through the Ethiopian Customs Commission.

“Ethiopian Diaspora with a permit to leave abroad, have been repeatedly requesting to use Franco Valuta privileges to curb the soaring inflation,” said a statement from MoF.

The previous announcement imposed a minimum amount of $250, 000 worth of commodities as requirement for the import of the items. However in the latest move the Ministry has lifted such restrictions.