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Month: June 2023

AdefrisAn Indelible, Prolific Literary Fiction

Posted on by Tizita S.

I had the foresight to expect something radical, based on the reviews and summaries that put matters in context the first time I read the Amharic novel “Adefris”, but its writing style was unlike anything I had read before.

The unlikely juxtaposition of the traditional and the modern, the spiritual and scientific, the conservative and the progressive was challenging. This duality in perception, self-expression and sentiment came as a surprise, considering it was written in the 1960s when much of the country was still in the feudal era.

Adefris literally means a disruptor in Amharic. I suspect the author purposely chose this word to convey the shaking of the status quo. In every sense of the word, that was what it did for me: disrupting the literary universe and existing worldview and expanding philosophical discourse.

I witnessed ingenuity in depicting mundane rural life through people, churches, places, dates and holidays in a seemingly haphazard and nonsensical manner. The rather hilarious mention of the diverse names and events only trigged the non-specificity of identity, space, and time in my mind. I was baffled as to why I was provoked by the apparently silly exercise. However, once I got the hang of it, I could not help but be amused and marvel at the sheer imagination, free spirit and mastery of an unusual literary technique.

I navigated through the moral and philosophical universe through the dilemmas in the human mind and society. The characters are used as vehicles carrying several world views from the traditional feudal Ethiopian to a modern Western-style philosophical discourse.

One of the characters, a young university student who struggles with his utopian vision and naivety, unveiled this particular dilemma. I was perplexed by the philosophical discussion he engaged in with an elderly man who challenged his ultramodern ideas. The conversation is complementary and partially aligns tradition with modernity.

The book persists in mentioning a small part of the brain where the mind registers everything since childhood in a chaotic myriad of ideas, thoughts and perceptions. This includes everything that is seen, observed, learned and yet exists in a state of confusion. It got me wondering if it is similar to a term I was familiar with in Physics, Entropy, defined as a lack of order or predictability resulting in a gradual decline to disorder.

Through the characters, the book gives a glimpse into a nation’s soul with the typically Ethiopian sense of reverence for the divine. It perturbs the mind about the magnanimity of God, appealing to the reader’s conscience.

The tragic fate of the main characters serves as a reminder that social change must be approached carefully and with consideration for values and beliefs. It is a cautionary tale that should be heeded by all who seek to bring about change in their communities—the importance of maintaining social order and upholding accepted norms in society.

As I delved into Adefris, it brought a new revelation and perspective. I learned to experiment with techniques I was not aware of. Each session prompts a new insight and opens the door to a new dialogue, reminding me of the author’s sheer genius and intellect.

I could not help but marvel at how the author, Dagnachew Worku, was ahead of his time in style, perspective, and universality of vision.

Perhaps his diverse background helped him to navigate through social norms critically. Dagnachew was born in Northern Shoa near the town of Debre Sina, the same locality serving as the setting for his novel. During high school, he was granted a scholarship at the prestigious Lycee Gebremariam in Addis Abeba. He went on to study literature at HaileSellasie I University (now renamed Addis Ababa University) and continued his postgraduate studies in Fine arts at the University of Iowa, USA.

His style remains insulated from the feelings and views of his character while still portraying them vividly in all their colours. He also does not cast or propagate any personal moral or ideological perspective and remains invisible as a writer.

Dagnachew went on to write poetry, prose and articles in Amharic. A major work in English, The Thirteenth Sun, was first published in 1973 as number 125 in Heinemann’s African Writers series. I had seen a copy in the now-defunct British Council Library near Ras Mekonnen Bridge (Piassa) when I was a university student.

I highly regret not having read the book while I had the chance. It was translated into German, Portuguese and Mandarin with more global reach than Adefris, which remains only in the Amharic version.

The critical reception for the novel Adefris at the time the book was published was not positive. The critics at the time were shell-shocked by the strangeness and novelty of his approach. The misunderstanding translated to rejection and denouncement, leaving the author a pariah to be scolded and an outcast to be shunned. His disappointment and anger led him to collect all unsold copies with the aim of destroying them.

It took decades and further dialogue, debate and intrigue in the literary circles as the notoriously Adefris continued to create controversy. However, as time elapsed and as society opened up and the critics woke up from their slumber, the work started to spark admiration, and its popularity started to gather steam.

The book has become quite difficult to lay hands on a copy. Unfortunately, there is not even a second-class rate copy, as even the few editions printed quickly run out of circulation. I consider my copy a highly prized possession and have qualms about even lending it to other people.

Balancing Foreign Investment against the Specter of Default

Posted on by Tizita S.

Under the shadow of Africa’s second-highest peak, Ethiopia is teetering on a precipice. Often hailed as an African economic tiger, the country is now beleaguered by a cascade of financial troubles that present not only a threat of default but also of a broader social and economic breakdown. This raises questions about the judiciousness of betting on foreign investment as the primary panacea.

The Ethiopian government is currently trying to court its creditors into an agreeable debt restructuring plan, yet tangible progress remains elusive. The country’s coffers are strained, and bankruptcy looms ominously on the horizon. Default is now a question of when – not if – unless a credible debt restructuring strategy is implemented. The authorities are toying with all available fiscal levers in a desperate bid to buoy the sinking ship.

Tax rates are being tweaked, and public expenditure is pruned. Notably, a concerted effort to woo foreign investment is being pursued. The latter is seen as a lifeline to replenish the evaporating foreign currency reserves. However, in pursuing short-term gains, the government risks making long-term mistakes. Its endeavour to privatise public enterprises, and concessions to foreign investors, may come at the expense of domestic interests. The allure of foreign currency is strong, yet it should not lead the government into overpromising or overstretching protections for investors.

Each policy action invariably births winners and losers. An aggressive pursuit of foreign investment can tip the scales unfavourably for domestic stakeholders.

Take, for instance, the government’s attempts to expand its revenue base by increasing the tax base or tax rates. While this may put more money into the national purse, the average Ethiopian employee or consumer bears the brunt of these changes. Conversely, reducing taxes may make for happier consumers but drains the state’s resources.

This tug-of-war between domestic and international interests also extends to investor protection. While respecting investment treaties can reassure investors, it may come at a high cost for the country. Protection measures may imply giving up a degree of control over national resources and sacrificing larger economic objectives. The economic guarantees offered by Ethiopia should not be perceived as an absolute entitlement for investors, overriding the country’s broader interests. Economic crises can have far-reaching impacts on social and human rights, and no investor’s rights, usually property rights, should overrule the fundamental human rights of the citizens.

Investors naturally desire protection from risk, but the scales must be balanced. The same investors who benefit from a prosperous economy should also bear some of the burdens when public policy measures are required in response to economic downturns. Investing involves risk, and it is unrealistic for investors to expect protection from all eventualities.

While offering protections and incentives to investors may address Ethiopia’s short-term problems, it risks creating a time bomb for the future. The government should retain the right to adjust its policies as needed, and these rights should be clearly stated in investment agreements. Failing to do so could see Ethiopia repeating the missteps of Argentina in the early 2000s.

In that instance, in the grip of a severe economic crisis, Argentina attempted to stabilize its economy through structural reforms, fiscal discipline, and a sweeping privatisation of state-owned entities. Despite its desperate situation, the government retained the right to regulate investors’ fee schedules, indicating an attempt to retain control even amidst chaos.

In 2002, Argentina took a bold step. It unpegged its currency from the US Dollar, a move known as “pesification,” which affected all contracts and payments in Argentina. This was a gamble aimed at controlling hyperinflation and stimulating growth. However, the decision was challenged by foreign investors who took their cases to international arbitration tribunals, alleging a breach of the Bilateral Investment Treaties (BITs). The tribunals ruled in favour of the investors, a chilling precedent for countries like Ethiopia looking to walk a similar path.

The analogy is important in the Ethiopian context, not only to illustrate the risks of overcommitment to investors but also to remind us of the social and human rights ramifications of an economic collapse. As Argentina’s economy imploded, fundamental rights such as security and health were undermined. Similarly, Ethiopia’s present economic struggle is not just a financial crisis; it has profound implications for its people’s quality of life and human rights.

The lessons from Argentina should caution Ethiopia against over-promising in its bid to attract foreign investment. Overreaching to secure foreign currency could plunge it into more profound economic and social turmoil. While international investment may offer a short-term solution, the government must retain control over its economy to protect long-term stability.

It would be remiss to overlook the role of multinational corporations and foreign investors in modern economies. Their influence in shaping economic landscapes, creating job opportunities, and bolstering foreign currency reserves is indisputable. For developing countries like Ethiopia, these factors are particularly salient.

However, hunting for foreign currency and investment should not override the duty to protect citizens’ welfare. The government must balance protecting investors and preserving its ability to regulate the economy in the public’s interest. This includes retaining the right to amend public policies and ensure investment agreements incorporate such provisions.

Ethiopia’s predicament underscores a critical lesson for other economies teetering on the brink of a similar crisis. There is a fine line between attracting foreign investment and sacrificing long-term national interests for short-term gains. As countries navigate these treacherous waters, the priority should always be to protect their economic sovereignty and the welfare of their citizens.

By avoiding the temptation to overpromise, by staying firm on protecting the rights of its citizens and by retaining its ability to change its public policies as and when needed, Ethiopia might still be able to navigate through this storm, emerging more assertive and resilient in the other side. It is a journey fraught with challenges, but with thoughtful navigation, the promise of a brighter future remains alive.

A Bold Financial Reboot for a Warming, Inequitable World

Posted on by Tizita S.

The post-war international financial architecture is no longer sufficiently adapted to deal with the growing inequalities, climate change, biodiversity erosion, and public health challenges prevalent in the 21st Century. The international community’s responses are currently fragmented, partial and insufficient.

Concessional resources provided by development institutions are not delivering their full potential in terms of impact, co-finance and alignment with needs. Neither is the expansion of finance conditions and rise in debt encouraging investment in developing countries nor provides them with means to address the challenges they face.

Yet international solidarity has never been more critical amid a growing number of crises that are weakening the poorest and most vulnerable countries to an even greater extent. To help the most exposed countries exit the COVID crisis, deal with the consequences of Russian aggression in Ukraine on their food and energy security, and cover the very high cost of climate transition and consequences of extreme climate events, it is necessary to scale up finance.

The global financial system inherited from Bretton Woods has reached its limits at a time when we are facing two major threats to the future of our planet.

The first is insufficient support for development and for the protection of our global public goods due to a lack of resources. The second, which is even more crucial, is the risk of geopolitical fragmentation, at a time when we need effective multilateralism and enhanced cooperation more than ever.

A number of G7 and G20 countries, organizations and associations share this observation with France and wish to promote the same conviction: we have to act fast and join efforts to correct the imbalances and injustices generated by these divides.

We are therefore now calling for a review of our software and for a shake-up of finance. We must together drive change in our global financial system to make it more responsive, just and inclusive, fight inequalities, finance the climate transition and biodiversity protection, and move closer to achieving the United Nations Sustainable Development Goals (SDGs).

This is the objective of the Summit for a New Global Financing Pact, held on 22 and 23 June in Paris. This Summit intended to be inclusive, with every country, every opinion and every proposal being able to be expressed.

The Summit was part of a positive momentum.

The launch of reform by the World Bank, the G20 Presidency of India and that of Brazil right after, the SDG mid-term review and commitments made at COP are all reasons for hope to build on this momentum. Tangible solutions have already been initiated: the Paris Club and the G20 launched an initiative for debt treatment. France plays a pivotal role in implementing coordinated solutions under the Common Framework.

We have proposed and obtained the issuance of 100 billion dollars in IMF Special Drawing Rights (SDR) for the most vulnerable countries. All countries in a position to do so must take part in this effort. Several multilateral development banks have begun to respond to the G20’s requests and have implemented initial measures to optimize capital to increase their lending capacity.

But we must now go even further, following the example of the Bridgetown Initiative, a set of innovative solutions spearheaded by Barbados to address climate vulnerability affecting many middle-income developing countries.

We will promote a reform agenda for development banks and the IMF to provide more finance to countries in the most need as well as global challenges. It is an agenda that aims to improve existing instruments and capital and to promote innovative approaches and instruments to support the poorest and most vulnerable countries.

It also aims to mobilize more private finance using risk-sharing and guarantee mechanisms to redirect financial flows towards these countries to support the local private sector and durable infrastructure. This requires stepping up the use of our instruments and public and private innovative and new financing mechanisms.

To be more effective, our international financial institutions should be able to do more than they are currently doing to work better together, while better mobilizing private savings. To be more inclusive, we must above all give a greater voice to the most vulnerable countries in international fora.

The Summit for a New Global Financing Pact highlighted global finance challenges and the many leaders participating gave the impetus needed to carry out the transformations our system requires.

We do not have to choose between fighting poverty, tackling climate change and its impact and protecting biodiversity. A just transition is the only answer.

 

Dispelling Forex Myths in Pursuit of Liberalisation

Posted on by Tizita S.

In 1997, a startling episode of financial legerdemain occurred in Ethiopia: the government wiped from the ledger a commercial debt used to acquire Ethiopian Airlines equipment, draining the country’s foreign exchange (forex) reserve by a fifth. The International Monetary Fund (IMF), oblivious to Ethiopia’s precarious reserve position, sanctioned a substantial loan for a proposed structural adjustment programme.

The later revelation of Ethiopia’s dwindled reserves sparked outrage among the IMF’s leadership.

Such historical episodes, while revealing fascinating crossroads in economic policy, continue to resonate today. A fresh call for financial market liberalisation has arrived, accompanied by the familiar issues of opaque commercial borrowings, forex reserve depletion, exchange rate reunification, and national conflicts. Any serious dialogue on financial liberalisation is welcome for the private sector, as businesses suffer from chronic forex shortages.

Forex discussions are usually about shortages induced by dismal exports and low remittance, with the conversation often veering towards the dependency on international commodity prices and proposing remedies like fiscal consolidation, monetary contraction, and structural trade adjustments.

The notion of exchange rate stability as a governmental or market competence is rarely addressed, let alone the complexity of maintaining a large gap between nominal and real exchange rates, or the concept of exchange market pressure (EMP) — the normalised percentage sum of reserve depletion and domestic currency depreciation.

Today’s financial ecosystem appears fixated on the might of the US Dollar, even over gold, hinting that a reliable and convertible currency is akin to possessing an epic gold mine. This might suggest that Ethiopia could consider bolstering the Birr to become a reliable and convertible currency.

Despite consistent bourgeois criticism of the US political economy, its financial sector continues to allure global capital, and its industry entices world-class labour. This is possibly attributable to the country’s low level of political and financial repression.

The World Bank’s paper, “Exiting Financial Repression – The Case of Ethiopia” by Jean-Pierre Chauffour and Muluneh Ayalew Gobezie, explores the least disruptive paths for lifting financial repression in Ethiopia, emphasising monetary and financial liberalisation. It defines repression as the government’s capture of financial resources at below-market prices for discretionary allocation.

They proffer cautious advice on abolishing financial repression, insisting on continued capital account and exchange control until fiscal balance, effective monetary instruments, and adequate forex reserve are achieved alongside moderate inflation. However, the current EMP on the Birr has significantly worsened since the paper’s release.

EMP was also a focal point of the IMF’s recent publication, “Managing Exchange Rate Pressures in Sub-Saharan Africa—Adapting to New Realities, April 2023”. The report suggested mitigating the adverse impact and containing exchange rate pressures via tighter monetary policy, fiscal consolidation, and strengthening the social safety net.

Although such advice is academically sound, it often overlooks the harsh realities faced by policymakers who must bear financial and political risks alone. Policymakers themselves are often trapped in myths: they assume a pseudo-control on forex, exaggerate the blessings of devaluation, downplay the role of “management” in a managed float, and persist in the belief that domestic currency will perpetually depreciate until exports outpace imports.

The fear that a free float will drain reserves, unmoor inflation, and result in financial collapse also paralyses decision-making. These myths need to be challenged.

The reality is that no central bank can control another’s currency. The coercive confiscation of earnings in its realm is not control — it is expropriation. Devaluation provides only temporary relief, with the benefits quickly vanishing in the face of ensuing inflationary pressure. The belief that the Birr will continue to depreciate indefinitely contradicts certain factors; the relative abundance of domestic currency and the flow of goods, services and capital occurs in cycles, requiring a dynamic ebb and flow of currency.

The fear that a free float will result in a reserve depletion and rampant inflation is indeed concerning. Yet, this rests on assumptions that domestic reserves will be unlimited and that central bank intervention will be absent—both far from reality.

A commercial bank’s reserves drying up whenever the National Bank of Ethiopia (NBE) or Commercial Bank of Ethiopia (CBE) infuses some dollars into the forex market highlights the impracticality of such a catastrophic depletion of foreign assets from a free float. It is absurd to imagine the government remaining idle during a reserve run.

Although intervention will be necessary to avert financial collapse, it should not replicate old methods of expropriation. A more astute financial approach is possible.

For instance, instead of expropriating remittance earnings and forcing the surrender of forex earnings, a proactive market intervention could be employed to prevent a sharp depreciation or appreciation. The central bank could provide a generous supply of forex to the market from its reserve and absorb excess Birr to maintain exchange rate stability.

A cautious liberalisation of the forex market, with the government acting as a stabilising force, might prove a sensible approach.

Yet, the journey towards a financially liberalised Ethiopia confronts an uncomfortable reality. As Ethiopia navigates its journey towards a free market economy, it must wrestle with an unusual state of affairs in which the “managed float” or “crawling peg” asserted by the National Bank of Ethiopia (NBE) has become, in effect, a synonym for forex rationing. Here, the belief in an everlasting depreciation of the Birr finds itself at odds with a reality shaped by an abundance of domestic currency and cycles of goods, services, and capital flows. Addressing these obstacles requires dislodging deeply-rooted misconceptions.

Interestingly, the government and market competence dichotomy in exchange rate stability needs revisiting. While the government has a role in maintaining stability, particularly in times of shock or crisis, market forces should primarily determine the rate. An adequately managed float implies the central bank’s intervention to avoid excessive volatility while generally allowing the exchange rate to be set by the market.

Ultimately, the discourse on Ethiopia’s financial liberalisation and forex reform should move beyond rigid positions and outdated myths.

This transition is necessary for technical expertise, political bravery, adept strategic communication, and a nuanced understanding of the interplay between global and local forces. It requires a pledge towards a future in which Ethiopia’s financial system is resilient, and inclusive, and serves the country’s broader developmental aspirations.

An Economic Model for the AI Age

Posted on by Tizita S.

In April, Alphabet CEO Sundar Pichai predicted that artificial intelligence (AI) would have an impact “more profound” than any other human innovation, from fire to electricity. While it is impossible to know precisely what that impact will be, two changes appear particularly likely: demand for labour will fall, and productivity will rise. In other words, we appear to be moving toward a labour-less economic model in which fewer human workers are needed to sustain growth.

Back-office support, legal services, and accountancy jobs seem to face the most immediate risk from new generative AI technologies, including large language models like ChatGPT-4. But every sector of the economy is likely to be affected. Because language tasks account for 62pc of employees’ time, a recent report by Accenture notes, large language models could affect 40pc of all working hours. Accenture estimates that 65pc of the time spent on these language tasks can be “transformed into more productive activity through augmentation and automation.”

And a new McKinsey report predicts that the AI-driven productivity boost could add the equivalent of 2.6 trillion to 4.4 trillion dollars in value to the global economy annually.

But, even as higher productivity boosts economic growth, the diminution of labour would undermine it, meaning that growth could stagnate. Reduced demand for human workers implies a steep rise in unemployment, especially since the world population is set to continue growing.

Unemployment is already a persistent problem. According to the International Labor Organization (ILO), the total number of unemployed young people (15-24 years old) has remained around 70 million for over two decades. And the global youth unemployment rate has been trending up, from 12.2pc in 1995 to just under 13pc after the 2008 global financial crisis to 15.6pc in 2021.

AI will exacerbate these trends. And because AI’s impact on labour markets is likely to be structural, the rise in unemployment would amount to a permanent dislocation. Structural unemployment could return to levels last seen in the deindustrialisation of the 1980s, when joblessness in the United Kingdom (UK), for example, remained above 10pc for the better part of the 1980s.

How can governments support GDP growth in a new era of persistent structural unemployment?

The most obvious likely response is a shift to greater redistribution, with governments raising taxes on the proceeds from AI-driven productivity gains and using those revenues to support the wider population, including by implementing some version of a universal basic income. To ensure adequate revenue to support expanded social safety nets, governments might move beyond taxing excess profits generated by AI-driven productivity gains to taxing the revenues of the firms reaping the biggest rewards. That way, the state – and, in turn, the general population – would claim a greater share of the AI windfall.

Of course, the AI revolution also has profound implications for businesses.

For starters, companies will have to adjust their strategies and operations to account for the combination of higher productivity and a smaller labour force, enabling them to generate more output with less capital. Companies that adjust as needed, and deliver low cost-to-income ratios, will attract investors; those that are slow to change their operating models will lose competitiveness and could fail.

The effects of such corporate adjustments will reverberate throughout the economy. Reduced demand for capital by firms will put downward pressure on the cost of capital, and companies will have less need to borrow from banks, causing overall activity in capital markets also to decline.

Higher taxes on corporate profits (or revenues) would create additional challenges. While the state will need to increase revenues to support the growing number of unemployed, this could leave corporations with lower retained earnings to reinvest, despite the additional profits generated by AI-driven productivity gains.

This is bad not only for the companies themselves. Lower investment in the economy would undermine growth, shrink the economic pie, and lower living standards. It would also narrow the tax base, erode the middle class, and widen inequality between the owners of capital and the traditional labour force.

While governments might want to raise taxes and redistribute the revenues to alleviate the short-term disruption caused by AI, they will need to think bigger in the long term. In fact, policymakers will have to rethink prevailing economic models and principles – beginning with the assumption that labour is a key engine of growth. In the age of AI, workers may do little to drive growth, but they must benefit from it.

 

This article was provided by Project Syndicate (PS).

The String Impacts of Childhood Trauma

Posted on by Tizita S.

Seven years ago, I met a woman while travelling to France. I often tend to sleep during long night-time flights, but the woman was charming and friendly, which kept me company. We exchanged phone numbers before we headed our separate ways.

Upon returning to Ethiopia several weeks later, we started to hang out. Despite the significant gap in age, experience and wealth, our friendship blossomed into working together on various projects, making the bond stronger.

She proved to be a valuable networking contact and helped my career significantly by offering opportunities and introductions to influential professionals. I admire her willingness to help others achieve their dreams.

Our friendship was based on the truth that we confront each other for the betterment of one another. We questioned each other’s life decisions and discussed solutions.

One of her life decisions was complex. She told me her longtime boyfriend never wanted to marry or have children, and she highly desires those things.

Irrespective of the difference in their ambitions, they seemed to be a well-seasoned couple. They lived together for 10 years and co-own successful businesses together.

His decision was not random, as multiple childhood traumas of parental abuse left him emotionally and mentally tormented. Both his parents had a physically abusive marriage that tainted his understanding of marriage. Despite trying therapy abroad and listening to a lot of advice, he never changed his decision.

He was honest about his decision and did not give my friend a false promise that one day he would change his mind, or they would have a family. In the face of counsel from many, she decided to be with him respecting his wishes. Unlike him, she compromised to accommodate his desire.

She had forsaken her wish to be married and become a mother. But somehow, she hoped he would change his mind.

As years went by without any change, they started having fierce disagreements about marriage and children. It took a decade for her to recognise the finality of his decision.

Our intervention to reconcile them did little to nothing. Their separation became inevitable as they both did not want to compromise. Tragically, they went their separate ways after all these years of having much love and care for one another.

The split did not make it better; rather, it landed my friend in a hospital for attempting suicide.

It is heartbreaking to watch her go through the painful ordeal of losing a long-time partner, as well as endure the “I told you so” feedback from her family and friends. People closer to her have told her she wasted her life, while she needed comfort and support, but she got blame and condemnation instead.

Studies also show that chronic trauma early in life may lead to permanent changes in the central nervous system, which may make a person more vulnerable to developing depression, anxiety, chronic pain, and autoimmune diseases.

Children who grow up with negative childhood experiences have a higher likelihood of clinical depression as adults and a higher probability of having problematic relationships. Bad childhood experiences, such as being unable to talk with family about their feelings, family neglect during difficult times, unable to enjoy community practices, and lack of sense of belongingness, continue to affect a child even in adulthood.

Individuals like my friend’s former partner tend to feel insecure in most aspects of life, feeling an ongoing sense of danger and mistrust even when their lives are going well. They often fail to see a connection between their childhood abuse and neglect and their adult-life relational problems, thinking of themselves as lifetime victims stuck with problems.

The path to healing is neither easy nor immediate, as the couple must peel off the complex life challenges they faced individually and as a couple. As they work to mend their relationship, it is important to recognise the power parents hold over their children to make or break them.

Parents must learn to protect their children from trauma by providing a safe and nurturing environment. This includes being aware of potential dangers, monitoring their child’s activities and social interactions, and seeking professional help.

They must prioritise their child’s emotional and mental well-being, which can significantly impact their development and future success. Parents can help ensure their children’s bright and healthy future by taking proactive measures to safeguard them.

Balance of Chastise, Nurture

Posted on by Tizita S.

I had a delightful encounter with one of my former teachers while out on the road the other day. I was excited to see her after a long time and eagerly called out her name. I could see the joy in her eyes upon recognising me. We shared a warm hug which was a truly joyful moment.

Many individuals have a memory of a certain teacher from their elementary or high school days who impacted their personality in some way. Some are fortunate enough to have had several teachers like this during their academic years.

This particular teacher was instrumental in nurturing my love for the English language. My confidence flourished under her guidance. Her gentle encouragement and unwavering support helped me and my classmates realize our full creative potential.

Teaching is a challenging profession that requires patience. The dedication of many teachers who have remained in the profession for decades is admirable. They have stayed committed to their calling despite the low wages. Most teachers I knew during my elementary years did not even change schools. Some have stayed for over five decades.

I wonder how they navigated through the different eras.

As someone who grew up in a time where disobedience towards parents and teachers was uncommon, I understand the value of discipline and do not hold any grudges against my teachers. I believe that it is important for students to be respectful when expressing disagreement with their teachers.

Teachers are human and are not immune to making mistakes or lacking knowledge in certain areas. If students have evidence to support their claim, they should present it to their teacher. While some may not welcome this, true educators will use it as an opportunity to improve themselves.

However, I have witnessed students who are rude and disrespectful, which is unacceptable. Some may feel that they are above the rules and that they can get away with anything, owing to their family’s status. While I do not condone physically harming students, I believe that adherence to rules is necessary. Teachers should have the right to discipline their students without fear of retribution or ridicule.

In the past, teachers were the sole source of education for the mass, which makes their commitment to the profession all the more admirable. Good teachers were students’ inner voices with their words of encouragement helping build self-esteem while a poor teacher destroyed a student’s confidence and fueled self-doubt.

Nowadays, one can learn anything with time, patience, and passion thanks to technology. But teachers remain responsible for producing capable citizens next to parents and guardians as children spend more time at school.

A genuine teacher ensures that their students have a complete understanding of the subject matter. They equip their students with the necessary skills to create a better future and go above and beyond to accommodate students’ needs rather than solely focusing on passing or failing them.

Their role in society cannot be overstated. They serve as the driving force behind the development of children, instilling in them the necessary skills and knowledge to become productive. They create well-rounded individuals by training children how to read, write, and think critically, as well as providing them with a comprehensive understanding of the world around them.

Teachers are an integral part of the economy. They are behind the workforce, equipping students with the tools necessary to succeed. Despite their significance, teachers are often undervalued and under-compensated, expected to work extended hours and handle challenging students.

The brief chat with my former educator had me thinking about all this and then more. It always amazes me how they age like fine wine. She looked just as I remember her despite the passage of time and exuded the same positive energy and radiance. It was an encounter that served as a reminder to always treat others with kindness and to strive to make a positive impact on their lives.

FISCAL FUGITIVES

Posted on by Tizita S.

Street vendors around the Mexico area run away from foot patrol as they are subjected to the expropriation of their merch and possible beatings if their feet fail them. Employment opportunities in Ethiopia dwindle by the day as galloping inflation rates of 33pc and political instability sweep through several regional states. Several die every day trying to cross the frosty waters of the Mediterranean in hopes of a better life on European shores. With the Ministry of Finance championing an austere budget of 801 billion Br for next year, no new additions to the civil service are likely to happen, further dimming the prospects of millions who target public service since childhood.

 

FADING CURATIONS

Posted on by Tizita S.

Paintings of Mulatu Astatke by local artists decorate the gallery at soon to be demolished Fendika Cultural Centre around the Casanchis area. The cultural centre is being demolished as part of land allotments by the city administration last year to 59 prospective investors with the 400sqm on which Fendika rests being a small part. With land being the property of the state in Ethiopia, only two mechanisms are afforded for its transfer to private citizens; allotments and lease auctions. The return of land lease auctions this year after four years has set records with losing bids of 695,000 Br for a single square meter. Over 20,000 bidders participated in the auctions with the biggest winning bid being a 495,000 Br by local entrepreneur Ibrahim Busser.

SOOTHING CHASMS

Posted on by Tizita S.

Youth around the Stadium area play ping pong to pass the time during the rainy winter. Ethiopia ranks 175th out of 191 countries on the Human Development Index (HDI), a multidimensional index that factors education, health, poverty, and other development indicators. With two million new citizens falling below the poverty line due to the protracted war in the north, studies forecast a further descent in ranking. As 97pc of 12th-grade students failed to make passing marks for University entrance this year, with the education ministry chalking it up to the improved testing methods, more and more youth spend their days fiddling on social media.