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Wedi
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Posts: 7959
Joined: 29 Jan 2020, 21:44

የጋላ አብይ አህመድ መንግስት የገጠመውን ከፍተኛ የገንዘብ እጥረት ለመቅረፍ ሁሉም ባንኮች ለመከላከያ ከገቢያቸው የተወሰነ x% ለመከላከያ እንዲከፍሉ አዘዘ!!

Post by Wedi » 02 Oct 2022, 03:48

አብይ አህመድ መንግስት በጦርነቱ ምክንያት የገጠመው ከፍተኛ የገንዘብ እጥረት ለመቀረፍ ሁሉም ባንኮች (የመግስትም ሆነ የግል) ለመንግስት ታክስ ከሚከፍሉት ግብር በተጨማሪ እያንዳንዳቸው ከገቢያቸው 2% ለመከላከያ እንዲከፍሉ ሊያስገድድ ነው፡፡

Financial Institutions to Open Wallets for War Efforts, Again

Federal authorities are pushing heads of financial institutions - yet again - to contribute up to two percent of gross profits to the Ethiopian National Defense Forces (ENDF). They are expecting the sector to chip in no less than 800 million Br, people familiar with a series of meetings held last week disclosed.

Muferhiat Kamil, minister of Labour & Skills, attempted to persuade executives of banks, insurance and microfinance institutions to back the federal government in the renewed fighting in the country's north. In a meeting held at the Hilton Hotel two weeks ago, a federal committee for resource mobilization for the war was unveiled, comprising central bank Governor Yinager Dessie (PhD), Abie Sanu, president of the Commercial Bank of Ethiopia (CBE), and Nestanet Lemessa, CEO of the Ethiopian Insurance Corporation (EIC).

They have asked the banks to contribute 1.5pc of annual gross profits and insurance firms to chip in half a percentage point more. read more

https://addisfortune.news/financial-ins ... rts-again/


Right
Member
Posts: 2722
Joined: 09 Jan 2022, 13:05

Re: የጋላ አብይ አህመድ መንግስት የገጠመውን ከፍተኛ የገንዘብ እጥረት ለመቅረፍ ሁሉም ባንኮች ለመከላከያ ከገቢያቸው የተወሰነ x% ለመከላከያ እንዲከፍሉ አዘዘ!!

Post by Right » 02 Oct 2022, 08:08

They found out the hard way that printing money is not the solution. Not for an impoverished and poor country like Ethiopia.

It is simple economics. A foreign currency reserve is vital for any country in the world. Imports like fuel, weapons, parts, equipment and other merchandise requires foreign currency to import.

Foreign currency can be earned through exports of industrial products & natural resources which basically Ethiopia has very little. Or through donations and loans. Loan has its own short comings for a poor country like Ethiopia because of interest payments. The PP government already borrowed $30 B in the last 4 years. Huge for a poor country.

Ethiopia is on life support because the West wants it that way. Without the West support Ethiopia will collapse in days

The PP & EZEMA coalition can bluster all they want the reality on the ground and science can’t be blustered away.

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