IMF reaches staff-level agreement on Ethiopia's fourth review

The International Monetary Fund has reached a staff-level agreement with Ethiopia on the fourth review of its $3.4 billion Extended Credit Facility arrangement. This agreement paves the way for a $261 million disbursement, bringing total financial assistance to $2.13 billion. The IMF urged continued forex reforms and fiscal discipline to support economic stability.

The International Monetary Fund (IMF) has reached a staff-level agreement with Ethiopia on the fourth review of its Extended Credit Facility (ECF) arrangement, valued at $3.4 billion and approved in July 2024. This paves the way for a $261 million disbursement, pending approval by the IMF Executive Board in the coming weeks, bringing total assistance under the program to $2.13 billion—about 62 percent of the approved amount.

Ethiopia's government accessed debt relief support in July 2024 to restructure external debt. The IMF report notes progress under the G20 Common Framework to address debt sustainability, though challenges persist with a $1 billion Eurobond and disagreements among two major creditors on debt treatment amounts.

The IMF staff team, led by Alvaro Piris, visited Addis Ababa from October 20 to November 4, 2025 (Ethiopian calendar), holding discussions. The team met with Finance Minister Ahmed Shide, National Bank of Ethiopia Governor Eyob Tekalgn, and other senior officials. As Piris stated, “Maintaining a tight monetary policy stance remains appropriate to anchor inflation expectations and support price stability.”

Under the government's Homegrown Economic Reform Agenda, growth has accelerated since mid-2024, bolstered by strong performance in gold, electricity, and agriculture. Goods exports have more than doubled in value, inflation has moderated, and government revenue has expanded significantly. Authorities are advancing reforms to improve the foreign exchange market, modernize the monetary policy framework, strengthen revenue mobilization, and enhance financial regulations. The IMF emphasized continuing these efforts to foster private sector investment by strengthening the business climate, ensuring macroeconomic stability, and reducing poverty in the medium term.

관련 기사

The International Monetary Fund's Executive Board has approved a $261 million disbursement to Ethiopia after completing the fourth review of its Extended Credit Facility program. This raises the total funding under the four-year, $3.4 billion initiative to $2.183 billion, aiding the country's balance of payments and fiscal needs. The decision endorses Ethiopia's progress in economic reforms aimed at macroeconomic stability and private sector growth.

AI에 의해 보고됨

The International Monetary Fund announced in a Tuesday statement that Egypt passed the fifth and sixth reviews of its US$8 billion loan program. This comes after the fifth review stalled for months due to slow privatization efforts. The fund praised Egypt's economic performance while calling for accelerated reforms.

The International Finance Corporation (IFC) plans to invest around $1.2 billion in Egypt during fiscal year 2026, up from $915 million the previous year. Cheick Oumar Sylla, IFC Director for North Africa and the Horn of Africa, announced this at a World Bank conference on multilateral development projects.

AI에 의해 보고됨

국제통화기금(IMF)은 중국의 2026년 성장 전망을 4.5%로 상향 조정했다. 이는 10월 전망치보다 0.3%p 높은 수준으로, 무역 긴장 완화와 지속적인 국내 정책 지원 덕분이다. 중국의 2025년 성장 전망도 0.2%p 상향된 5%로 조정됐다. 이러한 변화는 경기 부양 조치와 투자 목적의 정책 은행 추가 대출을 반영한 것이다.

 

 

 

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