Ethiopian News, Current Affairs and Opinion Forum
3 posts • Page 1 of 1
As third world nation, Ethiopia isn't expected to maintain firm financial regulatory body, similar with the US federal reserve. Therefore, the Ethiopian NBE was deliberately made weak by the greedy gang robber officials of the TPLF. In the name of priority of funds to the GERD, Ethiopia drained the lion share of foreign reserves to MITEC, and this authorization was mostly pushed by the HMD. Therefore, the accountability issue can be linked to HMD and even to the CBE. The issue is complicated and never ending. Had there been Rule of Low, the NBE could have first assured the proper utilization of the fund before releasing the next. In the developed nation, even the president can't dictate and violate the rules, further pressure often triggers resignation of the Chairman of the Reserve (NBE). We are very unlucky and i don't think we will have government that would be accountable by the rule of low.