Ethiopia has exceeded its $3 billion revenue target from coffee exports for the current fiscal year, marking a significant milestone for the world’s second-largest coffee producer.
Agriculture Minister Addisu Arega announced the achievement on social media, highlighting the sector's resilience despite broader economic headwinds.
The Ministry of Finance previously announced an agreement in principle with an ad hoc committee representing investors in its $1 billion Eurobond.
The robust export performance arrives at a critical juncture for Addis Ababa’s balance of payments.
Foreign currency inflows from coffee sales are essential for importing fuel, medicine, and other critical goods, helping to stabilize the birr and curb inflationary pressures that have plagued the economy in recent years.
This positive trade data complements recent progress in Ethiopia’s sovereign debt negotiations.
The Ministry of Finance previously announced an agreement in principle with an ad hoc committee representing investors in its $1 billion Eurobond.