WORLD IN BRIEF : ETHIOPIA : Marxist Chief Now Calls for Capitalism
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From Times Staff and Wire Reports
The Marxist economic system imposed after the late Emperor Haile Selassie was overthrown in 1974 is a failure, President Mengistu Haile Mariam said in a speech to the Central Committee of the ruling Marxist Workers’ Party. Mengistu said he wants a return to capitalism. The Central Committee must approve Mengistu’s recommendations for a drastic overhaul of the shattered economy. In recent months, Mengistu has taken many seemingly small steps to attract foreign investment and encourage domestic production.
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