Ethiopian News, Current Affairs and Opinion Forum
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Hawdian
- Senior Member
- Posts: 12080
- Joined: 15 May 2013, 23:18
- Location: Islam, commercial, maritime and free
Post
by Hawdian » 21 Dec 2022, 03:31
Ethiopia is broker than Kanye West right now
They can't afford any cargo via Berbera port. That business almost came to a complete stop. I just spoke to Wajale (on the border).
Ethiopia doesn't have a single USD and the Birr is sinking fast.
Just look at this graph
From 0.034 Birr/USD in Oct 2020 to 0.019/USD in Dec 2022 in another words 5000 Birr would have gotten you $170 but today only $95. Add inflation to that.
Ethiopia is dead.
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Misraq
- Senior Member
- Posts: 17854
- Joined: 27 Sep 2009, 19:43
- Location: Zemunda
Post
by Misraq » 21 Dec 2022, 04:10
Bro, that ratio you had is generous. It is equivalent to 1$ = 53 Birr and that is the official government banks exchange. The black market exchange is indicative of the economy and it is $1 = 102 Birr. This makes it $0.009 = 1 birr.
Ethiopia is on the good hands of pastors, prophets and who are also doctors, professors and Prosperity Party.