53rd Year
No. 6
Unit Price
Proclamation No. 75/1993
CONTENTS
A Proclamation to Provide for Transfer of Doubtful Bank's Debt to the Government
PROCLAMATION No. 75/1993
A PROCLAMATION TO PROVIDE FOR TRANSFER OF BANKS ' DEBT TO THE GOVERNMENT
WHEREAS under the past regime, contrary to the norma banking practice, credit worthness of the borrowers was not th condition for the availment of credit but directives issued b authorities other than the bank concerned ;
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WHEREAS international credibility of these banks ha been adversely affected due to the weaking of their finar cial position ;
WHEREAS strengthening financial position of suc banks is of paramount importance in the implementation the Transitional Period Econmic Policy and the Structura Adjustment Programme of Ethiopia; and
WHEREAS attainment of the afformentioned objective
ment of such debts which could not be collected ;
NOW, THEREFORE, in accordance with Article 9 (d
follows: