Ethiopia: Goldquest Drains Ethiopia's Foreign Currency Reserve

At a panel discussion held this week by second year M.A. students of the economics department of the Addis Ababa University regarding network marketing, particularly Goldquest's impact on the Ethiopian economy, it was revealed that until August 2005, 4.8 million dollars of foreign currency was taken out of the country for this purpose from the estimated 8,000 members in Ethiopia while the inflow had only been 774,000 US dollars.

The study that presented this figure was conducted by Ato Tewodros Mekonnen and Gerawork Getachew, employees of the National Bank of Ethiopia (NBE).

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