Corridor Dev depletes Ethiopia's foreign reserve
Posted: 25 Sep 2024, 17:59
1. Contractors are paid in US dollars and other foreign currencies
2. Ethiopia doesnt have local industries to produce enough construction materials such as cement, steel, lumber, plastic, glass , electric lamps and wires. In importing them, it also loses foreign reserve.
3. Fuel for construction machines also has to be imported accelerating the depletion of Ethiopia's foreign reserve.
The Corridor Development, without any plans how to recover its costs, will impoverish the war-torn country for a long, long time.
2. Ethiopia doesnt have local industries to produce enough construction materials such as cement, steel, lumber, plastic, glass , electric lamps and wires. In importing them, it also loses foreign reserve.
3. Fuel for construction machines also has to be imported accelerating the depletion of Ethiopia's foreign reserve.
The Corridor Development, without any plans how to recover its costs, will impoverish the war-torn country for a long, long time.
