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Key Questions on Ethiopia
Last Updated: July 29, 2024
On July 29, 2024, the IMF Executive Board approved an SDR 2.556 billion (about US$3.4 billion) ECF arrangement for Ethiopia. This decision will enable an immediate disbursement equivalent to SDR 766.75 million (about US$1 billion).
Read the key questions regarding the IMF arrangement with Ethiopia.
What are the objectives of the IMF-backed economic program?
The program supports the authorities’ Homegrown Economic Reform Agenda, a comprehensive policy package to stimulate private sector activity and increase economic openness to promote higher and more inclusive growth.
Other development partners—notably the World Bank—are also providing substantial external financing, and the program provides a framework for the successful completion of the ongoing debt restructuring.
What will the program do to help ordinary Ethiopians?
The program supports the authorities' policies to promote a robust, inclusive, and sustainable economy, through removing distortions that hold back investment and growth, and sustainable financing conditions for public spending priorities for example in health and education.
Strengthening social safety nets to mitigate the impact of reforms on vulnerable households is a critical component of the authorities’ reform program.
