Addis Ababa, April 2, 2026 (FMC) – The Governor of the National Bank of Ethiopia, Eyob Tekalign, met in Beijing with the Governor of the People’s Bank of China, Pan Gongsheng, in discussions aimed at advancing monetary cooperation to deepen trade and investment ties.
On the occasion, Governor Eyob provided a comprehensive update on his country’s debt restructuring progress under the G20 Common Framework, highlighting resilient GDP growth and efforts to manage inflation while rebuilding foreign exchange reserves.
Both sides expressed strong interest in establishing bilateral swap lines and trade financing facilities to facilitate smoother commercial flows.
Eyob also highlighted the potential to increase RMB reserves through revenue from Ethiopian Airlines and other sectors, as well as by transitioning key exports toward RMB settlement.
He noted that this shift would support the operating environment for Chinese enterprises in Ethiopia and promote new flows of foreign direct investment.
The governors discussed modernizing cross-border transactions through integration of national payment infrastructures.
For his part, Pan Gongsheng highlighted opportunities for Ethiopian financial institutions to join the Cross-Border Interbank Payment System (CIPS) and expand the use of China UnionPay to streamline retail and commercial payments.
The two sides also explored the development of central bank digital currencies (CBDCs), with the People’s Bank of China offering support through capacity-building and experience-sharing initiatives to accelerate Ethiopia’s digital finance evolution.
Pan Gongsheng commended Ethiopia’s recent macroeconomic reforms and proactive stance on debt sustainability. Both leaders reaffirmed their commitment to a long-term, mutually beneficial partnership aligned with the evolving dynamics of global trade and digital finance.