The Ministry of Finance (MoF) lifts conditions of the foreign currency amount and the source for the import of basic commodities through franco valuta scheme


In a letter issued on Friday April 8 and sent to Customs Commission MoF disclosed that it passed a decision that Ethiopians who live aboard and the diaspora can import basic commodities under franco valuta.
The new announcement is the replacement of the decision that it issued about a year ago. In April 2021 MoF allowed the diaspora and Ethiopians who live abroad can import consumer goods on franco valuta, while the National Bank of Ethiopia was assigned to confirm the source of the hard currency.
The previous announcement imposed a minimum smount of USD 250, 000 value of commodities as requirement for the import of the items.
However in the latest move the ministry has lifted such restrictions. Ahmed Shide, Minister of Finance told Capital that the government has decided to lift the minimum requirement for the import of the basic goods.
“Any one who lives abroad including the diaspora can import the stated commodities with any volume and value,” he explained.
Ahmed added that the new decision will be applicabe for at least six months, “we will review based on the circumstances but now we can say that it can be applied for the coming six months.”
Now reviewing the source of the foreign currency is not also a mandatory.
Edible oil, wheat, sugar, instant milk for infants, and rice are the commodities that can be imported through franco valuta.


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