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Articles by Teklebirhan Gebremichael
Ethiopia: Inflation Galore Plus!
The current overall economic situation At present in Addis Ababa you do not have to be an economist or a student of economics to be able to feel a sense of unease about the state of the national economy. A few days ago I invited a friend to lunch at a pretty ordinary eatery at Aratkilo. I suggested a fish dish knowing that my friend would not have any particular objection to the suggestion.
Ethiopia: The Summit of Earthly Holiness
"No religion in the world can compare with Ethiopian Orthodox Christianity in terms of pomp, circumstance, ceremony and pageantry. The liturgy enlivened with the uplifting church music of the great St. Yared is awesomely solemn. The mystery of the Trinity and the sacrament of the holy communion is as sacred as it is awe- inspiring," said the young handsome monk, Aba Semeon in his elaborate sermon to his congregation.
Mouth-to-mouth resuscitation
BY TEKLEBIRHAN GEBREMICHAEL Yassin was an ambitious young man of 22 years of age who had a definite plan for his life. His life plan had five basic ingredients: to stay healthy, get a masters degree in business administration, make his fist million Birr by the age of 32, get married and have a net worth of 35 bln Birr before he died. He got his MBA at the age of 24 and received a clean bill of health from Black Lion Hospital. He then had eight years to make his first million Birr.
Ethiopia: The Pros and Cons of the Currency Change
The government announced (September 4, 2020) that the currency notes that are now in use will be shortly replaced by new currency notes and a new 200- Birr banknote will also be introduced. Printing and related costs amounted to 3.7 billion Birr (or about 105.7 million USD at the official exchange rate) and the total amount of the newly printed currency by value is 262 billion Birr and by number of notes (bills) 2.9 billion ("Reporter," Amharic, September 5, 2020).
Ethiopia: Foreign Currency Intermediation for Domestic Banks - a Doubtful Empowerment
An empowerment domestic banks do not deserve The National Bank of Ethiopia (NBE), whose reputation has been badly tainted over the last thirty years, has recently issued a directive enabling domestic banks to borrow loans and credits in hard currency from international financial institutions for the purpose of on -lending to domestic business companies which generate foreign exchange earnings ("Fortune," Aug.16, 2020) amid Ethiopia's dubious external debt sustainability concerns.
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