International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Nov 27, 2024

International Monetary Fund (IMF) Reaches Staff Level Agreement on the Second Review of the Extended Credit Facility for Ethiopia

The arrangement was approved by the IMF Executive Board on July 29, 2024, for an initial total amount of SDR 2.556 billion (about US$3.4 billion at that time)

IMF staff and the Ethiopian authorities have reached staff-level agreement on economic policies to conclude the second review of the four-year USD$ 3.4 billion ECF arrangement. Formal completion of the review by the IMF Executive Board would give Ethiopia access to financing of about US$251 million. Implementation of Ethiopia’s homegrown…

Source: International Monetary Fund (IMF) | Jan 26, 2024

International Monetary Fund (IMF) Staff Completes 2023 Article IV Mission to Djibouti

Staff projects that the recovery will continue in 2024, albeit at a lower pace, and subject to significant risks stemming from the situation in the Red Sea and developments in Ethiopia

Strong rebound in activity in 2023 but regional geopolitical developments pose important risks to continued recovery; Finalizing the preliminary agreement on debt reprofiling with the main creditor would open a window of opportunity for the authorities to develop a sustainable strategy for public finances in the medium term; Concerted action…

Source: International Monetary Fund (IMF) | Apr 07, 2023

International Monetary Fund (IMF) Staff Concludes Visit to Ethiopia

The IMF team welcomes the authorities’ Homegrown Economic Reform Agenda (HGER II)

An International Monetary Fund (IMF) mission led by Mr. Alvaro Piris visited Addis Ababa from March 27 to April 7, 2023, to hold discussions on the authorities’ request for IMF support for their reform program. At the end of the visit, Mr. Piris issued the following statement: “The IMF team…

Source: International Monetary Fund (IMF) | Jun 21, 2022

IMF Staff Visit Discusses Reform Plans and Economic Developments in Ethiopia

The authorities aim to address macroeconomic imbalances and remain committed to structural reforms to support a transition to private sector-led growth over the medium term

Multiple shocks hitting the Ethiopian economy have dampened growth, further increased inflation and created fiscal and external pressures; The authorities aim to address macroeconomic imbalances and remain committed to structural reforms to support a transition to private sector-led growth over the medium term; Delivery of a debt treatment for Ethiopia…

Source: International Monetary Fund (IMF) | Aug 21, 2020

Coronavirus - Ethiopia: International Monetary Fund (IMF) reaches a Staff-Level Agreement for the First Review of the Extended Credit Facility-Extended Fund Facility for Ethiopia

The COVID-19 pandemic has had a significant adverse impact on Ethiopia and created serious health and economic challenges

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a virtual visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of…

Source: International Monetary Fund (IMF) | May 07, 2020

Coronavirus: Ethiopia steps up Health Spending with help from International Monetary Fund (IMF) Emergency Assistance

The funding will also support communication on health issues as combating COVID-19 will require a lot of advocacy work to ensure that people stick to prevention recommendations

The IMF has approved $411 million in emergency assistance for Ethiopia to help fight the coronavirus pandemic in the east African country. It also approved Ethiopia’s request for a suspension of debt service payments of about $12 million to the IMF under the IMF's Catastrophe Containment and Relief Trust for…

Source: International Monetary Fund (IMF) | May 01, 2020

Coronavirus - Ethiopia: International Monetary Fund (IMF) Executive Board approves US$411 Million in Emergency Assistance to Ethiopia to address the COVID-19 Pandemic

The authorities have taken swift and decisive action to contain the impact of COVID-19 by strengthening the health system

Ethiopia is facing a pronounced economic slowdown and an urgent balance of payments need owing to the COVID-19 pandemic; to address this urgent need, the IMF approved US$411 million emergency assistance for Ethiopia under the Rapid Financing Instrument. The country will also benefit from IMF debt service relief under the…

Source: International Monetary Fund (IMF) | Jan 28, 2020

International Monetary Fund (IMF) Executive Board concludes 2019 Article IV Consultation with The Federal Democratic Republic of Ethiopia

Ethiopia has sustained high economic growth over the last decade

On December 20, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation [1] with The Federal Democratic Republic of Ethiopia. At the same time, the Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for Ethiopia; a…

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