Economy
Federal Auditor Reports Ethiopian Postal Service Owes 950 Million Birr in Foreign Debt
The Reporter (Amharic) · 3 hours ago · Read the Full Story on The Reporter (Amharic)
AI SUMMARY
The Office of the Federal Auditor General revealed that the Ethiopian Postal Service owes approximately 950 million birr in unpaid foreign service fee debts and has failed to collect hundreds of millions in receivables.
- The Ethiopian Postal Service owes approximately 950 million birr in service fee debts to various foreign countries.
- The organization has failed to collect about 487 million birr owed by foreign entities over many years, alongside over 115 million birr from domestic organizations.
- Unpaid foreign debts include 157 million birr to Canada, 135 million birr to the United States, 155.4 million birr to Norway, and roughly 117 million birr to the United Kingdom.
- Institution officials stated that unpaid foreign funds are balanced against uncollected receivables, a practice the audit warns negatively impacts international relations.
- Between 2015 and 2017, 117 post offices were closed and 66 were left without assigned staff.
- Directives within the postal service were improperly approved by the Chief Executive Officer instead of the Board of Directors.
- The Auditor General recommended that the institution implement mandatory insurance systems for high-value mail and halt unauthorized insurance services.
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