Ethiopian Prime Minister Abiy Ahmed has appointed State Minister of Finance Eyob Tekalign as the new governor of the National Bank of Ethiopia, following the departure of Mamo Mihretu earlier this month.
Since taking office in 2018, Abiy has sought to liberalize Ethiopia’s tightly controlled economy, introducing reforms that have reshaped the financial landscape. Mamo’s tenure at the central bank oversaw some of the most significant shifts, including the flotation of the birr and the opening of Ethiopia’s financial sector to foreign banks.
Eyob, who has served as state minister of finance since 2018, previously headed the National Planning Commission. He also holds board positions with the central bank, Ethiopian Investment Holdings, EthioTelecom, and Ethiopian Electric Power. According to his LinkedIn profile, Eyob earned a doctorate from the University of Maryland, specializing in Ethiopia’s political economy since the end of the civil war in 1991.
Economic analysts say his experience positions him well for the role, though challenges remain. “Over the past seven years, Dr. Eyob has been at the forefront of Ethiopia’s economic reforms, including debt restructuring negotiations and tax reforms,” noted independent analyst Abdulmenan Mohammed. “He should appreciate the complexity of the responsibility he is taking. Inflation is still in double digits, the market-based exchange rate system remains fragile, and the interest-based monetary policy framework is still being implemented.”
With inflationary pressures persisting and exchange rate reforms still in transition, Eyob steps into one of the most demanding economic positions in the country—tasked with steering Ethiopia’s central bank through a critical reform era.
