According to a statement released on Friday, the International Monetary Fund (IMF) and Ethiopia have made headway in their discussions regarding the fund’s support for Ethiopia’s economic reform program. The IMF officials have been in Ethiopia since late March, carrying out technical work to prepare for a potential IMF-supported program.
The head of the IMF mission visit, Alvaro Piris, said that progress was made in the discussions regarding the scope of the IMF’s support for the reform program, and further discussions are scheduled to continue in Washington, DC, during the IMF-World Bank Spring Meetings and in the upcoming weeks.
The IMF previously commended Ethiopia’s efforts in restoring lasting peace and stability, particularly in the northern Tigray region, following an agreement in November to cease hostilities and restore humanitarian aid and basic services. However, the progress in the IMF program and Ethiopia’s request for debt relief under the Group of 20 Common Framework was hindered, in part, by the two-year conflict in Tigray, which resulted in the loss of tens of thousands of lives.
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