IMF praises Ethiopia’s home-grown economic reform programme

Addis Ababa, April 7, 2023 (FBC) – The Ethiopian government the International Monetary Fund (IMF) made progress in talks on the fund’s support for the country’s home-grown economic reform programme and discussions will continue in Washington next week, IMF said today.

Officials from the IMF have been here in Ethiopia since late March, when its spokesperson said they were doing technical work to prepare for a potential IMF-supported programme.

“We made progress in discussing the scope for IMF support for this reform programme,” Alvaro Piris, who led the IMF mission visit, said in a statement.

“The IMF team welcomes the authorities’ Homegrown Economic Reform Agenda (HGER II), an ambitious reform program that aims to address key macroeconomic vulnerabilities and unleash Ethiopia’s considerable economic potential. Discussions will continue in Washington, DC, next week, in the context of the IMF-World Bank Spring Meetings, and in coming weeks.”

In late March, the IMF said it welcomed the progress Ethiopia had made in restoring lasting peace and stability following an agreement in November to cease hostilities, including by the restoration of humanitarian assistance and basic services to the northern Ethiopia.