Mereja.Forum

ኢትዮጵያ ከቀን ጅቦች መንጋጋ ስናድናት ኢኮኖሚዋና የሰው ኋይሏ በጣም ተዳክሞ፡ በመኖርና ያለመኖር የጨለማ አዘቅት ተውጣ ነበር። ቢሆንም ከኤርትራውያን ወንድሞቻችን ጋር የፈጠርነውን መልካም ግንኙነትና እርቀ-ሰላም ተከትሎ ኢትዮጵያ ከመቼውም ጊዜ በተሻለ ደረጃ ላይ ትገኛለች።



United Arab Emirates gives Ethiopia $1 billion lifeline to ease foreign exchange crisis


The Eritrean connection came in handy to facilitate the lifeline.

Key Points

Ethiopia's foreign exchange shortage is due in part to its spending big on infrastructure projects. The current total left in the East African country's coffers is equivalent to less than one month's worth of imports, Reuters reported.

The United Arab Emirates (UAE) is to deposit $1 billion in Ethiopia's central bank to ease the latter's foreign exchange shortage.

The sum is part of a $3 billion aid and investment pledge from the UAE to Ethiopia announced Friday. The news came as Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan visited Ethiopian Prime Minister Abiy Ahmed in Addis Ababa.

Ethiopia's foreign exchange shortage is due in part to its spending big on infrastructure projects. The current total left in the East African country's coffers is equivalent to less than one month's worth of imports, Reuters has reported.

In April, Abiy said that Ethiopia's foreign exchange shortage could last 15 to 20 years, and that more cooperation with the private sector was needed to secure the country's finances.

https://www.cnbc.com/2018/06/18/united- ... risis.html

The chauvinists who see Ethiopia as a "rich" country that can be robbed of its "wealth" are wallowing in delusions of grandeur. It is the foreign aid given to the country which historically has been targeted by domestic thieves, but.... "ጃንደረባ ሎሌ በጌታው ሙርጥ ይኩራራል" እንዲሉ.... for the lazy chauvinists who feel entitled to the foreign aid, and treat it as a source of revenue, it's natural for them to say "ኢትዮጵያ ተዘረፈች!" Believe me, the country doesn't have anything of a value worth stealing. It's the aid dollars, stupid!

How much aid dollars did Weyane stash in offshore bank accounts every year?



What is ODA funding?
Official development assistance (ODA) is defined as government aid that promotes and specifically targets the economic development and welfare of developing countries. The developed countries below contribute funds to the ODA which distributes the funds to poor countries as government aid.

United States – $31.08 billion
United Kingdom – $18.70 billion
Germany – $17.78 billion
Japan – $9.32 billion
France – $9.23 billion
Sweden – $7.09 billion
Netherlands – $5.81 billion
United Arab Emirates – $4.39 billion (non-DAC member)
Canada – $4.29 billion
Norway – $4.28 billion
Turkey – $3.91 billion (non-DAC member)
Italy – $3.84 billion
Switzerland – $3.54 billion
Australia – $3.22 billion
Denmark – $2.57 billion

For instance, according to estimates reported by the World Bank, the amount of official development assistance (ODA) Ethiopia received in 2010 was $4 billion but total amount of illicit capital outflow (IFF) during that year was $5.6 billion.

This means in 2010 alone Ethiopia’s IFFs exceeded the ODA it received that year by $1.6 billion. In other words, Ethiopia’s IFFs amounted to diverting the entire aid money of 2010 to foreign banks and then still transfer abroad an additional sum of money.

https://addisstandard.com/rush-for-the- ... elerating/