Yohannes Ayalew has resigned as president of the Ethiopian Development Bank. He cited personal reasons for his resignation. The bank’s vice president, Getachew Wake, has taken over Ayalew’s responsibilities as a precaution.
Reportedly, Yohannes Ayalew helped the bank recover from complex problems and losses during his tenure. He put the bank in a better position.
Yohannes Ayalew is a notable Ethiopian economist and banker. He has held key positions in the financial sector, including vice governor of the National Bank of Ethiopia.
In September 2020, he became president of the Ethiopian Development Bank. During his tenure, Ayalew focused on addressing the bank’s challenges, particularly high non-performing loans.
Stakeholders will watch how the bank evolves under Getachew Wake’s leadership. The bank’s future direction is crucial for Ethiopia’s development goals and economic growth.
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