Ethiopia central bank lifts suspension of collateralised loans

Ethiopia’s central bank has lifted a suspension of lending by commercial banks to their customers using collateral such as property, the bank said on Monday.

The economy has been shaken by a conflict that has lasted more than a year pitting Prime Minister Abiy Ahmed’s national army against rebellious forces from the northern region of Tigray.

When the suspension was imposed in mid-August, the government said it took the measure due to “economic sabotage”, without giving further details.

The restriction has now been “fully lifted”, the central bank’s communications department told Reuters, without providing more details.