AN ALARMING DEVELOPMENT IN ETHIOPIA !
TIGARUS ARE LEADING THE ETHIOPIAN ECONOMY TO DISASTER BY PERMANENTLY PRINTING MONEY AND DUMPING IT ON THE MARKET !

THE RESULT IS THE BIRR HAS BECOME WORTHLESS NOW.
1 US dollar was worth 7 Birr few years ago now 1 US dollar is worth almost 14 Birr officially !
On the black market the birr is even much more worthless.

If birr is worthless at 14.00 what will you call Tanzania Shillings worth of 1000.00TKS a dollar. Please do not speak of Mozambique.

A Monopoly game paper money is worth more than Birr.
$1 U.S. dollars is now 26 birr on the black market.

AN ALARMING DEVELOPMENT IN ETHIOPIA !
TIGARUS ARE LEADING THE ETHIOPIAN ECONOMY TO DISASTER BY PERMANENTLY PRINTING MONEY AND DUMPING IT ON THE MARKET !

THE RESULT IS THE BIRR HAS BECOME WORTHLESS NOW.
1 US dollar was worth 7 Birr few years ago now 1 US dollar is worth almost 14 Birr officially !
On the black market the birr is even much more worthless.

This is why I really cherish Mengistu H/Mariam, one of the few GREAT thing he did for Ethiopia. The West, IMF and World bank as usual to destroy a developing nation such as Ethiopia asked Mengistu to devalue Ethiopia's currency so that theirs will be more valued. You know what he said to them "I am not going to kill my people by devaluing birr". The West did not dare challenge him until they succeeded to finally oust him

Yes,
but there was a big difference between the exchange rate of Birr to the US dollar officially and on the so-called black market, which was about 2 or 3 times the offical exchange rate.
And people use to say that the "black market" exchange rate is closer to reality than the official one, in particular in non-market economies. Well that could be right or wrong.
And countries that are export oriented like China and other east Asian countries prefer lower than normal exchange rate against the US dollar.
So when Mengistu said he will not kill his people by devaluing the Birr he might have said it in terms of import of military hardware and debt burden.

But this devaluation of the Birr today has to do with printing lot of money by woyanes.

Yes,
but there was a big difference between the exchange rate of Birr to the US dollar officially and on the so-called black market, which was about 2 or 3 times the offical exchange rate.
And people use to say that the "black market" exchange rate is closer to reality than the official one, in particular in non-market economies. Well that could be right or wrong.
And countries that are export oriented like China and other east Asian countries prefer lower than normal exchange rate against the US dollar.
So when Mengistu said he will not kill his people by devaluing the Birr he might have said it in terms of import of military hardware and debt burden.

But this devaluation of the Birr today has to do with printing lot of money by woyanes.