Arsi Golocha organic coffee Arebica

09/10/2024

The highest official bank exchange rate for USD to ETB is capped at plus or minus 121 Br per USD, but with additional fees, such as card transaction charges ranging from 2% to 6%, the effective rate can be even lower. Meanwhile, the parallel market rate is nearing 140 Br per USD, creating a significant gap between the official rate and the parallel market. The demand for foreign currency through the parallel market is increasing, largely because banks are struggling to provide foreign currency on demand​

Example of a $100,000 Exchange:

Official Bank Rate (121 Br):
$100,000 × 121 Br = 12,100,000 Br.

Parallel Market Rate (140 Br):
$100,000 × 140 Br = 14,000,000 Br.

Using official channels could result in a loss of 1.9 million Br compared to the parallel market, not including card fees.

Example of a $10,000 Exchange:

Official Bank Rate (121 Br):
$10,000 × 121 Br = 1,210,000 Br.

Parallel Market Rate (140 Br):
$10,000 × 140 Br = 1,400,000 Br.

Exchanging $10,000 through official rates could mean losing 190,000 Br compared to the parallel market.

Growing Demand for the Parallel Market:
As banks increasingly fail to provide foreign currency on demand, the reliance on the parallel market continues to grow. Many individuals and businesses are forced to seek foreign exchange in the parallel market because of the limited availability of foreign currency in official channels​

Can Ethiopia Survive Solely on Remittances?
While remittances play a crucial role in supporting Ethiopia’s foreign currency needs, relying on them alone is not sustainable. The IMF loans and other international aid may deplete, putting Ethiopia in a precarious situation if it fails to generate foreign exchange through other means, such as exports and tourism​

Why Isn't the Government Focusing on Exports and Tourism?
Despite the importance of remittances, Ethiopia must shift its focus toward production and exports to build a more sustainable economic future. The country’s untapped tourism sector i

09/10/2024

06/10/2024

Irreecha bara 2017 A.L.I

"Irreecha Hora Finfinneefi Hora Arsadee milkiin xumuramuun guddummaa Oromoo roga hundaan kan mulísedha" Shimallis Abdiisaa, Pirezidaantii Mootummaa Naannoo Oromiyaa
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Irreecha Hora Finfinneefi Hora Arsadee milkiin qajeelee; gufuufi gufaata malee ofkallee xumuramuun guddummaa keenya mirkaneessee jira. Kanaanis Oromoon uummata nagaa jaallatu; tokkummaafi obbolummaafis bakka kennu, gochaanis safuufi safeeffannaan kan guutame ta’uu isaa irra deebiin waan mirkaneessitaniif maqaa koofi maqaa Mootummaa Naannoo Oromiyaatiin isin galateeffachuun barbaadaa; galatoomaa!

Abbaa ayyaanichaa kan taataniifi sirnicha eegdanii ulfoof ulfina malu laattanii wal harkaa fuudhinsa dhalootaan har'aan kan geessan egeree ijaaruufis imaanaa harkaa qabdaniin raajii dalaguuf jirtu. Waadaa abboota keenya irraa fuunee bakkatti eegnee aarsaa isaan kaffalanis injifannoon ol qabnee firii dadhabbii isaaniin har'a uummanni keenya bilisummaa guutuun eenyummaafi miidhagina aadaasaa addunyaatti agarsiisuu bira darbee maqaa biyya keenyaa rogaa gaarii irratti ijaaraa jira. Kun injifannoo guddaadha.

Milkiin Irreecha Hora Finfinneefi Hora Arsadeetti duraa duubaan arganne walooma jabaa qabaachuufi haammataa ta’uu keenya kan mirkaneesse; qaamota kufaatii keenya eeganitti qaanii, warra gammachuu keenya nu waliin qooddatanitti ammoo kabaja horee jira. Kanaanis tokkummaan jiraannaan waan karoorsine hunda raawwachuu akka dandeenyuufi kan ayyaaneffachuuf argaman waliin ayyaaneffannee kan daawwachuuf dhufanis itita aadaa kuufama baroota dheeraa qabnu daawwachiifnee milkoofneerra.

Kabajamtoota uummata Oromoo Abbootiin Gadaa, Haadholiin Siinqee, Foolleewwan, Qeerroofi Qarreen, hooggansiifi caasaan Mootummaa Naannoo keenyaa sadarkaan jirtan, caasaaleen nageenyaa naannoo Oromiyaafi Federaalaa, waliigala uummanni naannoo keenyaa hundi guyyaa jala bultii irraa kaastanii hanga xumuraatti ayyaanichi karaa nagaafi tasgabbii qabuun akkasumas hirmaattoonni ayyaanichaa rakkoo tokko malee nagaan ba'anii akka galan waan gootaniif galanni keessan guddaadha.

Saboonni, sablammoonniifi uummattoonni biyya keenyaa akkasumas keessummoonni Idil Addunyaa sirna keenya nu waliin hirmaachuun kabaja, jaalalaafi obbolummaa nuuf qabdan waan nutti agarsiiftaniif maqaa koofi maqaa Mootummaa Naannoo Oromiyaatiin galatomaa jechuun barbaada.

Diyaaspooraan keenya biyya alaa jiraattanis waamicha isiniif taasifameef ulfina kennitanii karaa fagoo qaxxaamurtanii gara maatiifi biyya keessanii dhufuun Ayyaana Irreechaa nu waliin dabarsitanis waan nu kabajjaniif kabaja argadhaa.

Jiraattonni Magaalaa Finfinneefi Bishooftuu keessummoota kabaja Ayyaanichaatiif gara Magaalaa keessanii dhufan fuula ifaafi miira obbolummaan guutameen simannaa taasisuun waan nu boonsitaniif galatatu isiniif mala.

Miidiyaaleen biyya keessaafi biyya alaa Afaanota garaagaraatiin ogummaa keessaniif amanamtanii ayyaanni Irreechaa mallattoo araaraafi nagaa, faajjii tokkummaafi obbolummaa ta'uu isaa ijaafi gurra uummata addunyaan waan geessaaniif galatoomaa.

Dhumarrattis obbolummaafi tokkummaa; dhiifamaafi jaalalaa akkasumas nagaaf nageenya duudhaa Irreechaa irraa dhaalle horata taasifannee bara 2017 Irreecha keenya haaromsa aadaaf oolchinee, misooma jalqabne damee hundaan kan itti milkeessinu, bara tokkummaan Oromoo itti itituufi sabdaneessummaan biyya keenyaa daran itti dagaagu nuuf haa ta'u jechaa nagaan ofkaltanii akkuma dhuftan ofkalaa nagaan maatiif waatiitti galaa!

Horaa bulaa; deebanaa.

Oromiyaa ni ijaarra!
Itoophiyaa ni utubna!
Gaanfa Afrikaa ni tasgabbeessina!
Waaqayyos nu gargaara!

Shimallis Abdiisaa, Pirezidaantii Mootummaa Naannoo Oromiyaa
Fulbaana, 25 bara 2017
Finfinnee

01/10/2024

Ethiopia Removes Foreign Exchange Permit Requirements, Retaining Only Two Exceptions: internal combustion engine automobiles and intelligence or security equipment

01/10/2024

Ethiopia's negotiations to restructure over $1 billion in sovereign debt have hit an impasse. International bondholders rejected the government's proposal for a 20% principal reduction, amounting to $200 million in relief. Creditors said the proposal did not align with their view of the country's economic strength and called for more transparency in the talks.