The National Bank of Ethiopia enacted Directive No. FXD/86/2023, effective 8 September 2023, providing guidelines for offshore account operations.The Directive is intended to attract strategic investors to Ethiopia across multiple sectors.Executive summaryThe National Bank of Ethiopia (NBE) enacted Directive No. FXD/86/2023 (the Directive), which became effective on 8 September 2023. The Directive provides guidelines for offshore account operations for Strategic Foreign Direct Investment Projects in Ethiopia.The Directive is intended to attract strategic investors across multiple sectors to provide much-needed public goods (i.e., goods a government provides to its citizens), generate new foreign-exchange inflows, and create a preferential and flexible environment...