Ethiopia has reached a staff-level agreement with the IMF on the fifth review of its economic reform program following an in-person visit and virtual talks.
An IMF team led by Alvaro Piris visited Addis Ababa from May 6 to 20 2026 to discuss the review. The talks continued virtually and focused on economic developments and the effects of the Middle East conflict. Piris stated that authorities made progress on the Homegrown Economic Reform Agenda with output indicators exports reserves and government revenue improving through early 2026 alongside falling inflation. He noted that the conflict caused external shocks including trade disruptions and higher prices for fuel and fertilizer yet economic activity remained robust. The IMF commended Ethiopia’s tight monetary policy as a safeguard against inflation and called for further work on foreign exchange market transparency prudent spending and revenue mobilization. Good progress was also reported on external debt treatment with creditor discussions advancing as expected.
