IMF Approves New $261 Million Disbursement for Ethiopia
In a significant move to support its economic growth, the International Monetary Fund (IMF) has approved a new disbursement of $261 million for Ethiopia. This latest injection of funds is part of the country's 48-month Extended Credit Facility and comes as Ethiopia continues to navigate its economic challenges.Ethiopia's Economy Shows Signs of Improvement
According to the IMF, Ethiopia's economy is performing better than expected. The Fund notes that the country has experienced strong growth, higher exports, improved revenue collection, and rising foreign reserves. Additionally, inflation continues to ease, providing a boost to the economy.
IMF Disbursements Total Over $2 Billion
This latest disbursement brings the total IMF disbursements under the program to just over $2.18 billion. The funds will help Ethiopia cover its balance of payments and budget needs, providing a much-needed boost to the country's economy.
Ethiopia's Prime Minister Welcomes IMF Support
The approval of this new disbursement is seen as a vote of confidence in Ethiopia's economic policies. The country's Prime Minister, Abiy Ahmed Ali, has welcomed the IMF's support, acknowledging that it will help to address the country's economic challenges.
The IMF's approval of $261 million for Ethiopia marks an important step towards supporting the country's economic growth. As Ethiopia continues to navigate its economic challenges, this latest injection of funds will provide a much-needed boost to the economy and help to address the country's balance of payments and budget needs.
