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Zawya
3 days ago
- Business
- Zawya
Ethiopia, IMF staff agree programme review that could unlock $260mln
Ethiopia and the International Monetary Fund have reached a staff-level agreement on the third review of the country's $3.4 billion loan programme from the lender, the Fund said on Friday. Once approved by the IMF's Executive Board, Ethiopia will gain access to another $260 million in financing. "The (Ethiopian) authorities' policy actions in the first year of the programme have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption," the IMF statement said. "Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports and international reserves." (Reporting by Alexander Winning; Editing by Hugh Lawson)
Reuters
06-05-2025
- Business
- Reuters
Kenyan shilling steady, supported by remittances
Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File photo Purchase Licensing Rights , opens new tab NAIROBI, May 6 (Reuters) - The Kenyan shilling was steady on Tuesday, supported by remittances and muted foreign-currency demand, traders said. As of 0935 GMT the shilling was trading at 129.00/50 to the U.S. currency, the same level as at the close of Monday's session, London Stock Exchange Group data showed. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by Hereward Holland; Editing by Alexander Winning Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
