Ethiopia has appointed Eyob Tekalign (PhD) as governor of the National Bank of Ethiopia (NBE), entrusting him with steering monetary policy through turbulent economic waters. He replaces Mamo Mihretu, who resigned earlier this month after nearly three years at the post.

Dr Eyob, an economist and former state minister of finance, previously oversaw fiscal policy and public finance at the Ministry of Finance and served as head of the National Planning Commission, bringing more than two decades of experience.

The leadership change at the central bank comes as the government advances reforms, including the transition to a market-based foreign exchange system, gradual liberalization of the banking sector, and negotiations with international creditors on debt restructuring.

The International Monetary Fund (IMF) has repeatedly emphasized the need for Ethiopia to strengthen the independence of the central bank, warning that a lack of autonomy could undermine inflation expectations and destabilize the economy.

Mamo, who was appointed in January 2023, resigned in early September 2025. His tenure included efforts to modernize the financial system and contain inflation, though challenges in currency stability and liquidity persisted.

Dr Eyob brings policy and international experience, having worked at Ethiopia’s diplomatic mission in Washington, D.C., and with the World Bank and IMF. He holds a doctorate in political economy from the University of Maryland, a master’s degree from George Washington University and a PhD in Political Economy from the University of Maryland, and a bachelor’s degree in economics from Addis Ababa University.

Dr Eyob is the 11th governor of the central bank.