The International Monetary Fund (IMF) has approved the disbursement of $248 million to Ethiopia as part of the country’s ongoing economic growth reform efforts. The loan disbursement, which is a part of a broader $3.4 billion arrangement under the Extended Credit Facility (ECF), aims to bolster Ethiopia’s economic stability and support crucial reforms across key sectors.
The funds, approved by the IMF’s Executive Board, will be used to support the government’s ongoing efforts to address fiscal challenges, enhance macroeconomic stability, and strengthen the public financial statement
Progress in raising domestic fiscal revenues, strengthening state-owned enterprises, and anchoring financial stability is promising, with continued commitment needed to sustain the achievements thus far, said IMF in a statment.
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