The Executive Board of the International Monetary Fund (IMF) has approved an immediate disbursement of approximately $248 million for Ethiopia under the second review of the Extended Credit Facility (ECF).
This disbursement will help Ethiopia meet its balance of payments needs, media reported on Saturday, recalling that the ECF agreement, which involves a total of around $3.4 billion, aims to support the program of economic reforms launched by the government to address macroeconomic imbalances and lay the foundations for private sector-led growth.
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The IMF further reported that the National Bank of Ethiopia (NBE) has maintained tight monetary and financial conditions, reporting progress in modernizing the monetary policy framework.
The international financial institution also noted that the authorities are continuing their efforts to restore debt sustainability and are taking measures to ensure debt treatment.
-It should be remembered that last July the Ethiopian government launched macroeconomic reforms marked in particular by the liberalization of the exchange rate regime and the opening of the banking sector to foreign investors.
Par Le360 Africa (with MAP)
01/18/2025 at 4:09 p.m.
