• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

IMF’s board approves second review of Ethiopia’s $3.4 billion program

by January 17, 2025
written by January 17, 2025

WASHINGTON (Reuters) – The executive board of the International Monetary Fund on Friday approved the second review of Ethiopia’s current financing program, the fund said, paving the way for a disbursement of about $250 million.

The East African nation struck the four-year, $3.4 billion program deal last July, after it undertook far-reaching reforms including the floatation of its birr currency, to enable it to try to put its debt restructuring back on track.

“The authorities continue their efforts to restore debt sustainability and are taking steps to secure a debt treatment. The progress made on debt restructuring negotiations under the Common Framework is welcome,” the IMF said in a statement.

“The financing assurances received, and adjustment efforts made are consistent with IMF policy requirements and program parameters.”

The Fund’s staff and the government reached agreement on the second review in late November.

The IMF has assessed that Ethiopia’s economy has fared better than expected under the reform program, with projected surge in inflationary pressure failing to materialise and hard currency reserves rising faster than the envisaged rate.

After unusually fast reviews of Ethiopia’s programme that were aimed at closely monitoring the impact of the reforms, the IMF said in November it would switch to the conventional six-month review schedule.

The IMF’s role in Ethiopia’s debt overhaul has come under criticism from some quarters, including from World Bank staff, who questioned the conclusions reached by the Fund’s debt sustainability assessment in an internal document last year.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
CBO sees US 2025 deficit flat at $1.9 trln before any Trump tax changes
next post
US will hit debt limit on Tuesday, Yellen says in letter

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • Fed rate cuts to help bolster commodity demand: Wells Fargo
    • DLocal explores potential sale, gauges interest from acquirers

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy