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Treason

Why this hurts Ethiopia? ● Foreign currency enters freely → birr loses value ● Banks now depend on foreign-currency liquidity instead of domestic deposits. ●Ordinary citizens’ birr savings are eroded. ● A small elite profits from the inflows, while the local economy suffers. Example Investor has $100,000. Exchange rate now: 1 USD = 50 birr → $100,000 = 5,000,000 birr. Birr devalues to 1 USD = 75 birr. Investor converts the 5,000,000 birr back to dollars → $66,666. They bought birr when it was strong, sold when it weakened → speculative gain if done in reverse, speculative loss if misjudged. In Ethiopia, when the birr drops unexpectedly, the wealthy who act fast can make large gains by converting foreign currency to birr or vice versa — that’s speculative profit.