ADDIS ABABA Feb 7 State-owned Ethiopian
Airlines is unable to repatriate about $220 million held in
local currency in Nigeria, Egypt and some other African states
because of foreign exchange shortages in those nations, the
company's chief executive said on Tuesday.
Tewolde Gebremariam told Reuters that this was partly
because countries such as Nigeria had been hit by recent falls
in oil prices, which was reducing foreign exchange inflows.
This also meant cash held in the local currencies was losing
value, he said.
"This is a huge challenge for us," the CEO added.
(Reporting by Aaron Maasho; Writing by Edmund Blair; Editing by