Tag Archives: forex

Addis Fortune Editorial: Patronage Become Threat to Forex Allocation Whose interests decide on forex?

24 Apr

Posted by The Ethiopia Observatory (TEO)

    “Worse, patronage is becoming the trait of the foreign exchange regime. Banks, be it private or public, are allocating foreign currency based on personal connection than economic merit of engagements. While those with the right connection can access it, regardless of the economic worth of their importing engagement, those having no connection, but could have benefitted from transactions with the higher return to the economy, cannot have it. It seems that the whole forex regime of the nation is falling victim to patronage and opportunism.”

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