The IMF and Ethiopia have reached a staff-level agreement on the second review of the country’s $3.4 billion financing programme, the IMF announced Wednesday.
Ethiopia secured the programme in July after floating its birr currency, a key IMF recommendation. Upon the Executive Board’s approval, the country will receive about $251 million.
“Ethiopia’s reforms, including its market-determined exchange rate, are progressing well,” the IMF said, noting stable inflation and positive growth prospects.
Following rapid early reviews to monitor reforms, the IMF will now transition to six-month review intervals.
