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In 1980s, Derg came up with the idea of reducing dependency on foreign countries and being self-sufficient. One of the components of that self-sufficiency was wearing domestically manufactured kaki dresses. Wearing and consuming domestic products were the order of the day. In fact, some of the top Derg/WPE officials used to wear European shoes to set their standard higher than the ordinary kaki wearers. After three decades and half, the idea of “homegrown” came back and we are hearing some songs of “hagerigna”. In one way or another, history is about to repeat itself in Ethiopia.

On December 11, 2019, an International Monetary Fund (IMF) issued End-of-Mission press release announcing that the Ethiopian government authorities and the IMF staff team reached preliminary staff-level agreement, subject to approval by IMF’s Executive Board, on the three-year US$2.9 billion financing package to support implementation of Ethiopia’s Homegrown Economic Reform Program. According to the statement, the IMF-supported reform program would consist of five main pillars: (1) transition to a more flexible exchange rate regime; (2) strengthening oversight and management of state-owned enterprises; (3) strengthening domestic revenue mobilization and expenditure; (4) reforming the financial sector; and (5) strengthening the supervisory framework and financial safety nets. The details of these programs and the conditions attached to the funding are not yet available for the public.
Read more here: http://aigaforum.com/article2019/Homegrown-Reform.htm

Qurunde wrote: ↑

20 Dec 2019, 13:44

In 1980s, Derg came up with the idea of reducing dependency on foreign countries and being self-sufficient. One of the components of that self-sufficiency was wearing domestically manufactured kaki dresses. Wearing and consuming domestic products were the order of the day. In fact, some of the top Derg/WPE officials used to wear European shoes to set their standard higher than the ordinary kaki wearers. After three decades and half, the idea of “homegrown” came back and we are hearing some songs of “hagerigna”. In one way or another, history is about to repeat itself in Ethiopia.

Hehehe...now we are going back 30 years to compare shoes with billions of dollars that the country has been short changed by the TPLF nazis. I guess TPLF prefers imported everything instead of developing local talent and local solutions to local problems. Their dream of perpetuating a minority hegemony is gone once and for all. Whatever comes going forward won't be anything comparable to what the country went thru in the last three decades.

If as Dr. Abiy said borrowing from IMF and WB is like borrowing from one’s own mother what is a problem iif Ethiopia borrow more. If we can we pay, if we can’t we request from debt forgiveness from our mothers.

Risa wrote: ↑

21 Dec 2019, 00:03

If as Dr. Abiy said borrowing from IMF and WB is like borrowing from one’s own mother what is a problem if Ethiopia borrow more. If we can we pay, if we can’t we request from debt forgiveness from our mothers.