Borkena
Toronto – On Wednesday, Governor of National Bank of Ethiopia – Mamo Mihretu – announced on his social media page that he is departing the public service. New information that emerged on social media this afternoon seems to indicate that Abiy Ahmed removed him from his position.
Many did not see that coming. It is just a year since Abiy Ahmed’s government introduced a new economic policy – letting the Ethiopian birr depreciate by accepting what appears to be an IMF imposed decision to adopt a market-based forex exchange and the opening of the banking sector for foreign investors, among other measures.
Mamo was in charge of implementing those economic measures. In his letter he shared yesterday, he claimed that the economic reform that he led was a success. Among other things, he measured it with a “decrease in inflation rate,” and an “increase in reserve currency.”
However, economists seem to be rejecting the claim. Yonas Biru, an economist with work experience in the World Bank, says Mamo’s removal is evidence that the economic policy has failed.
Watch his latest interview and share your views in the comment section.
Video : embedded from Anchor Media YouTube channel
Cover photo : Screenshot from the video
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