DO NOT DEVALUE THE BIRR: Ignore the World Bank! By Tecola W Hagos
The recent poisoned advice from the World Bank to devalue the Birr by another 10% is a sure process of killing the Ethiopian economy for good. What they are attempting is to get at China through such pariah-nibbling at small economies around the world where China has gained well-earned influence and often mutually beneficial partnerships with numerous developing countries. “Lars Moller, the bank’s chief economist in Ethiopia, told reporters today in the capital, Addis Ababa,” about the 10% devaluation so reported William Davison in his short article “World Bank Urges Ethiopia to Devalue Birr to Boost Exports,” Bloomberg, Jul 22, 2014. (For full Text, CLICK HERE!)