The International Monetary Fund has approved a new disbursement of 261 million US dollars for Ethiopia after completing the fourth review of the country\u2019s 48\u2011month Extended Credit Facility.<\/p>\n
The money will help Ethiopia cover its balance of payments and budget needs, bringing total IMF disbursements under the programme to just over 2.18 billion dollars.<\/p>\n
According to the Fund, Ethiopia\u2019s economy is performing better than expected, with strong growth, higher exports, improved revenue collection and rising foreign reserves, while inflation continues to ease.<\/p>\n
The ECF programme, worth about 3.4 billion dollars in total, is designed to support Ethiopia\u2019s Homegrown Economic Reform Agenda, which aims to correct macroeconomic imbalances and lay the groundwork for private\u2011sector\u2011led growth.<\/p>\n
The IMF says Ethiopia has met all its key quantitative targets and most structural reforms. However, the federal budget for the current fiscal year deviated from earlier programme assumptions, and the authorities have pledged new measures to keep the deficit manageable and spending in line with programme goals.<\/p>\n
The Fund is also urging Ethiopia to maintain tight monetary policy to keep inflation in check, continue reforms of the foreign exchange market, and push ahead with tax and customs changes to broaden the tax base.<\/p>\n
On debt, the IMF welcomes progress under the G20 Common Framework, including the signing of a memorandum of understanding with official creditors. Talks with private lenders are still ongoing.<\/p>\n
In a statement, IMF Deputy Managing Director Nigel Clarke said the authorities\u2019 reforms in foreign exchange, monetary policy, revenue mobilisation and financial regulation are delivering \u201cencouraging results\u201d, but warned that maintaining reform momentum remains crucial to Ethiopia\u2019s medium\u2011term growth and poverty\u2011reduction goals.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund has approved a new disbursement of 261 million US dollars for Ethiopia after completing the fourth review of the country\u2019s 48\u2011month Extended Credit Facility. The money will help Ethiopia cover its balance of payments and budget needs, bringing total IMF disbursements under the programme to just over 2.18 billion dollars. According […]<\/p>\n","protected":false},"author":1,"featured_media":10111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Africa News","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32],"tags":[114,1163],"class_list":["post-19299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","tag-ethiopia","tag-international-monetary-fund-imf"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/19299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=19299"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/19299\/revisions"}],"predecessor-version":[{"id":19300,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/19299\/revisions\/19300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/10111"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=19299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=19299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=19299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}