In late July, Ethiopian Prime Minister Abiy Ahmed introduced a new plan called the Homegrown Economic Reform Program (HGER 2.0). This program aims to fix some big problems in the country's economy, like high debt, rising prices (inflation), joblessness, and a struggling currency. The government wants to create a more stable and competitive economy, where the foreign exchange market works properly.
During a speech to the House of People's Representatives, Prime Minister Abiy made some startling claims. He accused foreign embassies in Ethiopia of engaging in illegal currency operations on the black market. He suggested that these embassies are "robbing" Ethiopia of its resources by participating in shady currency deals that hurt the country’s economy. According to him, these actions are making it harder for Ethiopia to get the foreign currency it needs to stabilize its economy.
Abiy's comments raised eyebrows because they suggest a conflict between Ethiopia and some foreign co...
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