Mereja Forum

Any updates on that toilet paper (I mean BIRR) update?

When the TPLF came to power in Ethiopia in 1991, all the foreign debt incurred by the Derg regime was forgiven on the grounds that the money the Derg had borrowed was spent on purchasing military hardware, thus the TPLF was allowed to start with a clean slate. The TPLF was however a den of thieves, who borrowed one billion dollars every year to fill their coffers, leaving the Ethiopian people to carry the burden of the debt.

Fast forward to 2018. The downfall of the TPLF thieves was supposed to herald a new era of peace, stability and prosperity. But the Neo-colonial powers that owned Ethiopia for 27 years didn't want to see the country slip out of their sphere of influence, hence they ordered the TPLF to attack Ethiopia to bring the country's economy to its knees. As opposed to one billion dollars a year leaving the country, today the same amount is spent on lubricating a war machinery to keep the country in endless cycle of internal conflict and debt bondage.

No Ethiopia deal as IMF visit ends

An analyst believes the inability to push through a deal could be a sign of the government's unwillingness to sign up to a currency devaluation.



April 8th, 2024
By Harry Clynch

A visit to Ethiopia from the International Monetary Fund (IMF) ended without a deal last week, as Addis Ababa seeks a bailout to support the restructuring of billions of dollars’ worth of external debt.

In December last year, Ethiopia failed to pay a $33m bond coupon and became Africa’s latest debt defaulters. Earlier in 2023, Ethiopia’s largest single creditor, China, allowed the country to suspend debt repayments on bonds maturing in the 2023-4 fiscal year.

https://african.business/2024/04/financ ... visit-ends

1 Nakfa = 3.78 Birr. (Official Exchange Rate)
1 Nakfa = 40 Birr (On the Black market)

The IMF has ordered Ethiopia to further Devaluate its Devalued Currency in order to obtain more debt.

As Seyoum Teshome walked to a bar with wheelbarrow full of money, thieves stole the wheelbarrow and left the worthless Birr behind.

IMF Wants Ethiopian Currency to be Devalued by 60% !!!

Terrible news! We are doomed!

Fiyameta wrote: ↑

19 Apr 2024, 13:12

The IMF has ordered Ethiopia to further Devaluate its Devalued Currency in order to obtain more debt.

Did you know that....

England ruled Singapore for 144 years...

60 years after gaining its independence from the British Empire in 1963,

Today...

The average annual income in Singapore is $67,200

While the average annual income in England is $49,240,
which is $17,960 less than to that of Singapore's.

A British reporter for the Financial Times of London asked Singapore's Prime Minister Lee Kuan Yew a very silly question in a condescending manner. The answer he gave him was....... well... watch it here....

May 3, 2024

1.00 US Dollar = 57.29 Ethiopian Birrs

1.00 US Dollar = 15.00 Eritrean Nakfas

https://www.xe.com/currencyconverter/co ... USD&To=ERN