Ethiopia: Dont't Stash Away Much-Needed Hard Currency

(File photo).

As the saying goes money does not grow on trees. The lack of money is the root of all evils. As a matter of fact, money comes and goes over and over again. If one uses money as it should be, it will be as easy as falling of a log to take a given country to the pinnacle of success in no time at all. Without money, it will be absolutely impossible to do anything for one's country and be on the right track of development.

By the same token, without money it will be easier said than done to make ends meet with and one's dream come true. More often than not, as some people do not care about money, they spend their capital over unnecessary things time and again. Hence, they fall in trouble over and over again. As they do not know the way out, they do not care about tomorrow.

In fact, the Holy Bible says look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they? Which of you by worrying can add one cubit to his stature? "So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; and yet I say to you that even Solomon in all his glory was not arrayed like one of these. Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith?

"Therefore do not worry, saying, 'What shall we eat?' or 'What shall we drink?' or 'What shall we wear?' For after all these things the Gentiles seek. For your heavenly Father knows that you need all these things. But seek first the kingdom of God and His righteousness, and all these things shall be added to you. Therefore do not worry about tomorrow, for tomorrow will worry about its own things. Sufficient for the day is its own trouble.

By hook or crook, the general public need to develop the saving culture of saving as it helps them be affluent and do whatever as they wish. More to the point, saving money help people to have financial freedom. Unless one saves money as it should be, it will be difficult to make ones dream a reality and lead a meaningful life. Mostly, those who fail to do so end up missing the desired target after a short time. This being the case, some people live all their born days underprivileged. It will be as well difficult to fulfill the capacity of meeting one of their goals.

This reality on the ground applies for all development activities of the country. Unless proper care is taken we cannot realize a given country's objective. But when the country's economy is properly utilized, it will be difficult to achieve the desired goal within the shortest time possible.

At this point in time, some people are stashing away money from Ethiopia over and over again. The number of people, engaging themselves in this bad deed has been on the rise. If they keep doing so, the country will undoubtedly miss the desired goal again and again. In this fashion, taking one's country to the pinnacle of success will be a hard row to hoe.

Recently, the Ethiopian Prime Minster Dr. Abiy Ahmed had lauded the danger of hoarding away the country's wealth.

In actual fact, it will be easier said than done to fully get ourselves involved in the development activities of the country and grow to be fruitful. If we utilize our wealth in our own country suitably, taking the country to the pinnacle of success will be as easy as abc.

In the interview Dr. Zelalem, lecturer at Wollega University gave to the Ethiopian Press Agency, stashing away money is bordering on corruption. Furthermore, it pours cold water on the infrastructural expansion work of the country. As the education sector and different projects designed by the government require a huge amount of capital, stashing away money will pull back the country from bearing fruit in different development activities. Besides, stashing away money will not help the country be on the right track of development.

In the same way, when people lose foreign currency to import inputs sought after for different purposes, achieving the intended target will be very difficult. Stashing away foreign currency will automatically tests the capacity of the country in addition to obstructing the country from returning loan.

More to the point, it fades away the potential of the people to invest in their own country.

If irresponsible bodies keep hoarding away money, the country will lose the opportunity of getting loan from different money lending bodies in the world. Stashing away foreign currency is bordering on corruption and other related aspects," he concluded.

In the interview, Tamirat Balecha, Department Head of Economics at school of Commerce gave to the Ethiopian Press Agency, "Stashing away hard currency causes a lot of harm.

More to the point, it enables the country to be off the track over and over again. Likewise, it prohibits the country from importing medicine from aboard. If we do not have foreign exchange to import medicines, it will be an obstacle to the health sector of the country.

See What Everyone is Watching

More From: Ethiopian Herald

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.