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Ethiopia secures IMF deal to unlock $261mn as reforms gain global backing

IMF Deputy Managing Director Nigel Clarke and Ahmed Shide, Ethiopian Finance Minister. Photo @Ministry of Finance - Ethiopia/Facebook
IMF Deputy Managing Director Nigel Clarke and Ahmed Shide, Ethiopian Finance Minister. Photo @Ministry of Finance - Ethiopia/Facebook
  • IMF staff-level deal clears $261mn for Ethiopia
  • Reforms, climate action key to continued support

 

ADDIS ABABA, ETHIOPIA – Ethiopia has reached a staff-level agreement with the International Monetary Fund to unlock about $261 million under its $3.4bn credit programme.

The IMF confirmed the deal on Wednesday after concluding the fourth review of Ethiopia’s Extended Credit Facility, signalling continued international confidence in the country’s economic reforms.

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