Ethiopian Diaspora Council vows to improve remittances and discourage illegal money transfers –

Ethiopian Diaspora Council

Addis Ababa October 15, 2021 (Walta) – Members of the Ethiopian Diaspora in Action Council said they are striving to involve the diaspora community in the development of the country by improving remittances.
Council members told ENA that Ethiopians around the world have supported their country in a variety of ways, including through remittances.

The nation, for example, obtained more than US $ 2.3 billion in 8 months of Ethiopia’s fiscal year alone, according to the Ethiopian Diaspora Agency.

The plan for the year was to secure $ 4 billion in remittances.

Members said that although the increase in the amount of money sent by the Ethiopian Diaspora is very small when the number of Ethiopians residing across the world is taken into account.

One of the board members, Befikadu Terefe, said the diaspora is helping Ethiopia in various ways, including in the form of remittances, to get the country out of its current predicament.

Therefore, efforts are being made by council members to improve remittances by promoting their benefits for national economic development.

“Much remains to be done to ensure that the current government structure works closely with the diaspora. We do remittances and we can also engage in tourism and investment. The Ethiopian diaspora abroad is able to manage the country’s economy and does not hesitate to help the country financially and intellectually, ”he stressed.

Alebachew Desalegn, a member of the council’s executive committee, said remittances are increasing as Ethiopians send currency through the National Bank and denounce currency brokers.

“The diaspora community around the world must actively protect Ethiopia in order to support this effort. When enemies try to weaken Ethiopia in this way, the diaspora must take responsibility and send money legally through the National Bank, not through illegal channels. We recommend and encourage this.

As the Ethiopian Diaspora in Action Council, “we are working hard on this issue because Ethiopia’s sovereignty is based on the economy. We will fulfill our national duty by preventing the waste of Ethiopia’s foreign exchange and contributing to the growth of its economy.

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