Is Ethiopia doomed? – Awate.com

For an Eritrean pretending to wear 20/20 glasses, you will be intent on picking up criticisms of Ethiopia, regardless of their successes and failures. For example, I would not expect people like Mr. Hidrat or other ELF descendants to make any neutral/good comments about Isaias government. Because I know they have issues with him. Without further ado, let’s get down to the topic at hand. The topic they discussed revolved around devaluation and inflation.

As I said, there are two ways to regulate currency in a free market: through a reserve system and a floating market system. In the former, the local currency is pegged to the dominant foreign currency in the external market. Devaluation occurs when the foreign market overwhelms the local market, causing the local central bank’s foreign exchange reserves to be exhausted. In this case, the local central bank will be forced to devalue the local currency relative to the dominant foreign currency. Suppose that previously 1 dollar was equal to 20 yen, and now it has become 1 dollar to 40 yen (any exchange rate greater than 20). Ethiopia has not chosen this method, so there is no point in bemoaning the devaluation. It is completely out of touch with reality!

There are two reasons for inflation: the central bank prints money out of thin air, or the money is laundered/wasted and no one is held accountable. As far as I know, the Central Bank of Ethiopia has not started printing money domestically, so that is out of the question. This way, we have no accountability. Accountability comes from a simple review of the current money market. Wait, isn’t that what the government is trying to do? Moreover, no country has found a silver bullet to solve the accountability problem so far, except through the separation of the three branches of governance and a free press. The loud propaganda of the so-called rise in inflation caused by borrowing $20 billion from the IMF further exposes their ignorance of the meaning of money markets. The government is doing this to shut down the black market that originates from the unregulated market, thereby causing irreparable losses to the national treasury.

But with the introduction of currency markets, not only will the government have control over its currency, but it will also add a new dimension to the booming market. They have now added puts, calls, shorts, bids, swaps and spreads. The gains from the spreads alone make the $20 billion IMF loan look insignificant. This interview was a complete loser show, bent on finding scandal. The two men kept yelling about inflation, showing that they have lost their way. It was all Winger lending Dinges his name to bring chaos to the country by repeatedly yelling out technical terms that have nothing to do with the Beeves and Butthead show going on in Ethiopia. The dead-eyed reporter could have saved his guest, Dr. Liar, by talking about how the government shouldn’t implement new reforms due to the lack of infrastructure. Alas, every time they appear on YouTube to rant about Ethiopia, they are always surprised at how out of touch they have become.

Regardless, more aggressive measures are needed to save Ethiopia from its impending doom. Next, the regions should be made aware (through compulsory education in schools) of how the federation is supposed to work. After that, electoral reforms and the establishment of Addis Ababa (and its environs) as an independent state… Especially the Tegarus and Amharus should know that no one owns Addis Ababa. Just because Menelik saved us from Italian colonial rule doesn’t mean people should continue to idolize the Amharus and let them in whenever they are uprooted and flock to the AA. Likewise, for nearly 30 years, the TPLF was 10 years ahead of its arch-enemy Dergi, deceiving us into playing the vanguard in getting rid of the maligned socialist system.

Still, you are right about this country being doomed: the reason is simple: the Prime Minister and his cohorts (like his predecessors and, to the amusement of many, addicted to war) have not prioritized the prerequisites of federation and the much-needed reforms. He has no reason to wage war in Tigray, nor in the Amhara region. He could simply abandon them and make them understand that their (chaos) is as bad as the rest of us. If they want to govern, they should know that they can only do it by forming political parties, appealing to the masses and working with others. Not by war, not by force!!! If these expatriates cannot hold out, then, I don’t know what else to say, but say goodbye to your Ethiopia, because no one wants to be conquered again.