STORY: Consumers enjoy stable market in celebration of Ethiopian New Year
SHOOTING TIME: Sept. 10, 2024
DATELINE: Sept. 13, 2024
LENGTH: 0:03:04
LOCATION: Addis Ababa
CATEGORY: ECONOMY

SHOTLIST:
1. various of the markets in Addis Ababa
2. SOUNDBITE 1 (Amharic): ELIAS HAILU, Resident in Addis Ababa
3. various of the markets in Addis Ababa
4. SOUNDBITE 2 (Amharic): DEREJE JEBESSA, Banker at the Commercial Bank of Ethiopia
5. SOUNDBITE 3 (Amharic): DEREJE JEBESSA, Banker at the Commercial Bank of Ethiopia
6. various of the markets in Addis Ababa

STORYLINE:

Holiday shoppers in Addis Ababa, the capital of Ethiopia, said they had witnessed stable holiday market prices amid a high supply of festive products ahead of the Ethiopian New Year celebrations.
   
The Ethiopian New Year fell on Sept. 11 this year.

It is usually celebrated with a series of events, including the slaughter of chickens, sheep, goats, or oxen, depending on the financial capability of a household.

SOUNDBITE 1 (Amharic): ELIAS HAILU, Addis Ababa resident
"When I compare this New Year holiday market with previous ones, I witnessed fair prices during this year's holiday market regardless of the recent increase in the exchange rate of U.S. dollars."

SOUNDBITE 2 (Amharic): DEREJE JEBESSA, Banker at Commercial Bank of Ethiopia
"The holiday market is doing well, and it is not terrifying but moderate against people's expectation that followed the falling of Ethiopian birr against U.S. dollars after the government relaxed currency restrictions."

SOUNDBITE 3 (Amharic): DEREJE JEBESSA, Banker at Commercial Bank of Ethiopia
"Like previous holidays, the price of a big-sized sheep was sold at about 15,500 birr, while an average-sized sheep was about 9,000 birr, and a small one was sold for 7,000 birr. The holiday market has proved not fearsome."
   
Some Ethiopians viewed the government's decision to switch to a market-based foreign exchange system with uneasiness, fearing that it would lead to a sharp rise in the cost of living at a time when inflation is already high. The country has also been struggling with chronic foreign currency shortages, particularly in recent years.
   
Local and federal authorities have been trying to ease inflationary pressures through administrative actions, including the introduction of a temporary price cap for food items and the supply of festive foods such as chickens and eggs during the holiday season.

Xinhua News Agency correspondents reporting from Addis Ababa.
(XHTV)