To implement his programs for reform and modernization, the Emperor enlisted the expertise of three foreign advisors: General Virgin, a Swede, for foreign affairs; Colson, an American, for financial affairs; and Patterson, also an American, for legal affairs. His programs also included replacing the Bank of Abyssinia, which had been under the supervision of the National Bank of Egypt since its establishment in 1920, with a national bank called the "Commercial Bank of Ethiopia." At that time, state revenue was limited to customs and taxes, which developed slowly, and proceeds from agricultural exports, which amounted to £1.8 million. From 1936 to 1937, the country did not have a budget in the conventional sense. Most revenues and expenditures were in kind: crops, animals, gold. There was no distinction between the Emperor's budget and the state budget. Income was derived from provincial taxes, customs, the state's share of the railway, and finally, the export of some agricultural crops, livestock, and coffee.

Despite this, with his loyal cousin Ras Imru ruling in Gojjam, the equally loyal royal family member Ras Kassa ruling in Begemder, his eldest son and heir apparent ruling in Wollo, and himself in Shewa, Haile Selassie felt, albeit temporarily, secure. The five provinces that constituted the historical empire eventually came under his control.

His Foreign Policy: (6) Since his appointment as regent and heir apparent in 1916, Haile Selassie's foreign policy, until the Italian invasion of his country in 1935, was focused on specific issues. He wanted to bring his country into the community of modern and civilized nations by introducing means of progress and modern administrative systems. He also wanted to join the League of Nations, obtain a seaport, and counter the plans of colonial powers coveting his country. In return, he had to deal with the demands of the outside world, especially regarding the slave trade and arms trade, and ensure their interests in his country.

Haile Selassie realized early on that his country had a real image problem in Europe. He adopted a public relations approach, announcing the abolition of the slave trade in November 1918 and regulating the sale of arms. Both were important for overcoming the arms embargo imposed on his country in 1916.