Africa
EthiopiaEthiopia's Grand Renaissance Dam Powers Nation, Exchange Rate Policy Criticized
Ethiopia's Grand Ethiopian Renaissance Dam (GERD) now provides over half of the country's electricity, while its exchange rate float policy faces criticism for exacerbating poverty.
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Former World Bank President Criticizes Ethiopia's Exchange Rate Float
First report 10h agoLast update 6h ago1 takes▼ 1
criticizing devaluation impactnegativeShow 2 posts
started 10h ago•Last update 6h ago
The rapid depreciation of the birr from 28 to 161 per U.S. dollar has deepened poverty and benefited banks and well-connected firms, with Malpass advocating for currency stabilization.
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