4 days ago
Ethiopia, IMF staff agree programme review that could unlock $260m
Ethiopia and the International Monetary Fund (IMF) have reached a staff-level agreement on the third review of the country's $3.4bn (R60.83bn) loan programme from the lender, the fund said on Friday.
Once approved by the IMF's executive board, Ethiopia will gain access to another $260m (R4.65bn) 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."
Reuters
