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Ethiopia’s Central Bank announced Wednesday that the birr has been devalued from roughly 13 ½ birr to the dollar to nearly 16 ½ birr, a one-day drop of about 17 percent. Officials were not immediately available to comment.Action Gets ‘Thumbs Up’ – With Some Reservations The International Monetary Fund representative in Addis Ababa, Sukhwinder Singh Toor, welcomed the move, saying it would help to bolster the competitiveness of Ethiopia’s struggling economy.“We also wanted the chance to host them in our country as they did in theirs.” Fendika’s group leader Melaku Belay – the traditional dancer who accompanied saxophonist Getatchew Mekurya and the Dutch band the Ex at the historic 2008 outdoors show at NYC’s Damrosch Park – “has established himself as the top dancer in Ethiopia with more than 40 international concerts in the last three years, including performances at Chicago’s Millennium Park and New York City’s Lincoln Center,” the band said in a press release.“One of the most active artists on the Addis Ababa scene today, Melaku is an ardent supporter of Ethiopia’s diverse musical traditions and a savvy cultural entrepreneur who manages his own nightclub and is developing his own institute for the arts.” This tour is supported by two new releases by Debo Band: , the group’s first 7-inch vinyl record and Flamingoh (Pink Bird Dawn), their first EP.The band’s Ethiopian-American founder Danny Mekonnen said the concert has been a long-time coming.“Ever since we first worked with Fendika in Addis, we’ve wanted to share this collaboration with U. audiences…they are incredible folk performers who do what few have seen in this part of the world,” Danny said.Voice of America Peter Heinlein | Addis Ababa Ethiopia has sharply devalued its currency – the birr – in a bid to boost economic growth.The move was welcomed by economists, though it may have the side effect of fueling inflation.
“Also, exports may not respond as much because you cannot increase your agricultural exports just because you have the advantage of the exchange rate devaluation.” Read more and listen to the report at
Birhan “Mac” Mekonnen who owns 23 Domino’s Pizza franchise locations in Texas at his home in Heath, Texas which is modeled after the Fasilides' Castle from his hometown of Gondar in Ethiopia.