Ethiopian currency getting getting weak by 15%
Many economist from the western world believe devaluation will revamp export and results an increase in revenue that narrows balance of trade. Others argue it is not always true devaluation to increase export revenue. Export can grow in other ways and strategies.
Most favoured Ethiopia by western economist of this decade was advised by IMF and world bank to devalue its money has done it once again. Weather it will bring a positive result to the country economy shall be left to the future.
Questions are also raised by concerned citizens in diaspora. Why was the United States and its gov been concerned of weak dollar few years ago, If devalued money increases an export revenue the US should be happy about it. Not only the US many strong economies of the world never felt happy about their weaker currencies.
The World Bank, IMF are also criticized for their undemocratic structure that pressures third world countries to devalue their currencies with out giving a room to sovereign states to decide by themselves. World bank and IMF are also known for being Environmentally unfriendly and less concerned about third world people who are in need of social projects such as health, education, conservation of natural resources etc. They simply see things with the eyes of the industrialized world who have all the options from the private sector.
15% devaluation what does it mean to you?
Does really revamp export revenue?
are there ways and means to increase export with out devaluation?
This are some of the issues need discussion? and have your say.