Friday, December 01, 2006

When will Ethiopia invest in Ethiopia?

Raw materials constitute 1.4% of Ethiopia's imports. Manufactured goods constitute 72.4% of the imports. Im going to take a dangerous step and suggest that Ethiopia needs to invest more on manufacturing its own goods. Maybe then we wouldn't have one of the greatest debts in the world. We have all of the resources and materials but instead we are importing all manufactured goods from China, India, America, etc. And at the same time we are exporting virtually nothing. The goods made at home by our own people are not being bought by any other countries; and moreover, the goods made at home are not being bought by our own people. So, our countries goods are devalued and local manufactures do not have enough profit to continue their work. How do we get out of all of the contracts and IMF/World Bank policies that encourage the ethiopian government to buy so many goods manufactured in other countries? How do we get Ethiopia to invest in Ethiopia?

Click on the title and go to IMF documents on Ethiopia.