Kotebe post

Yihune Ephrem Kassahun Imagine a world where economic policies are crafted by a bunch of well-meaning but utterly clueless individuals. Picture a scenario where the collective wisdom of a group of people who barely passed high school math is applied to a nation's economic strategy. Welcome to the hilarious rollercoaster ride of what happens when morons design economic policy.     The Grand Plan: "Let’s Just Print More Money!"   Our story begins with a groundbreaking idea from the head honcho of the Moron Economic Committee (MEC): “Why don’t we just print more money? That way, everyone will have enough, and no one will be poor!” Sounds foolproof, right? So, they fire up the printing presses. Within weeks, every citizen is a millionaire! Unfortunately, a loaf of bread now costs a billion bucks. Hyperinflation runs rampant, and people start using stacks of cash as building blocks for their kids’ playhouses.   Taxing the Air We Breathe Next on the agend...

By:  Yihune Ephrem Kassahun In a significant move to streamline its foreign exchange market, the National Bank of Ethiopia (NBE) has issued a comprehensive new foreign exchange directive, titled "Foreign Exchange Directive No. FXD/01/2024." This directive aims to establish clear rules, roles, and responsibilities in Ethiopia's foreign exchange landscape, with the goal of fostering greater trade, financial stability, and economic growth.     Key Highlights of the New Directive   The directive, which consolidates and revises various previous regulations, addresses a wide range of foreign exchangerelated activities. Key areas include:     Role of Banks and Authorized Dealers: Clear guidelines are established for the roles and responsibilities of banks and authorized foreign exchange dealers, ensuring a more efficient and transparent market operation.   Exchange Rate Determination: The directive promotes a more open and competitive market...