The Federal Democratic Republic of Ethiopia: Request for a 14-Month Arrangement under the Exogenous Shocks Facility-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Federal Democratic Republic of Ethiopia

September 30, 2009

Summary

Facing declining reserves and high inflation, Ethiopian authorities have implemented an effective macroeconomic adjustment package supported by the IMF under the rapid-access component of the Exogenous Shocks Facility. The global recession is putting renewed pressure on the external position, via weaker export receipts and remittances and slowing inward direct investment. Supporting structural measures focus on tax reform, the control of public enterprise borrowing, and the control of liquidity through indirect instruments.

Subject: Central banks, Economic sectors, Export performance, External debt, International reserves, International trade, Public debt, Public enterprises

Keywords: Africa, aid inflow, balance of payments outlook, CR, Export performance, food prices surge, GDP, Global, HIPC resource, International reserves, ISCR, price, public enterprise, Public enterprises, real GDP, X. exchange rate arrangement

Pages:
70
Volume:
2009
DOI:
https://doi.org/10.5089/9781451812855.002
Issue:
296
Series:
Country Report No. 2009/296
Stock No:
1ETHEA2009002
ISBN:
9781451812855
ISSN:
1934-7685

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