Ethiopia has approved the launch of a Central Bank Digital Currency (CBDC) through a draft proclamation. The CBDC, known as the "Digital Birr," is aimed at enhancing financial inclusion and efficiency in the country's financial system. The Digital Birr is expected to be issued and governed by the National Bank of Ethiopia, with regulations to be set by the bank to ensure its stability and security. The move towards a CBDC reflects Ethiopia's commitment to leveraging digital technologies to modernize its economy and financial infrastructure.
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