Essence of DOPE
Posts tagged Birr
DevelopeFail
Jan 23rd
We are becoming a country of Marie Antoinettes, most Ethiopians yell on Facebook to let them eat injera while they eat the finest kitfo.
by Teddy Fikre written: Monday, January 23rd, 2012
There is a great debate going on back home in Ethiopia and in the Diaspora about the pace of progress and the significance that this pace has when placed in context of the overall governance of the Meles cabal. To be honest, this topic is a toxic landmine, no matter what position you take on this topic, you are sure to get your legs blown off by the enmity of pro or anti-government lynch mobs. To be honest, there not too much room for nuance or honest discussion on this issue. But you know me, I like to tap dance in landmines and pop my collars in hurricanes, so let me go meto gena in on this topic.
Yeah I know, I always like to introduce an opening paragraph by cracking a joke or two, but to be honest, this is a dead serious conversation, so time for sober assessment on this issue. It is true that Ethiopia’s pace of development in the past 20 years has been astronomical by any More >
Ethiopia Devaluates its Currency by 20 Percent
Sep 2nd
The National Bank of Ethiopia (NBE) announced today that it has devaluated the national currency of the country (birr) against major international currencies by about 20 percent.
Posted: Thursday, September 2, 2010
One US dollar which was equivalent to 13.62 birr will be exchanged at 16.35 Ethiopian birr as of today (September 1, 2010). The measure taken by NBE is expected to make import expensive and result in increasing prices of imported goods.
The announcement followed Ethiopia’s government Growth and transformation plan, which attempts to make the industrial sector lead the economy after five years by substituting imported goods.
In a meeting Prime Minister Meles Zenawi held with major business community on Saturday (August 28, 2010) indicated his government’s plan to support investors who are willing to be engaged in producing imported goods locally.
Value of One Ethiopian Birr: Applicable as of September 1, 2010
Currency Buying Selling US DOLLAR(USD) 16.3514 16.6784 POUND STERLING(GBP) 25.2040 25.7081 EURO(EUR) 20.7450 21.1599 SWISS FRANK(CHF) 16.0276 16.3482 SWEDISH KRONER(SEK) 2.2123 2.2565 NORWEGIAN KRONER(NOK) 2.5880 2.6398 DANISH KRONER(DKK) 2.7864 2.8421