The Federal Democratic Republic of Ethiopia: 2025 Article IV Consultation, Third Review Under the Extended Credit Facility Arrangement, and Financing Assurances Review-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia
July 15, 2025
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
In July 2024, the Board approved a four-year arrangement under the Extended
Credit Facility to support the authorities’ Homegrown Economic Reform agenda (HGER),
which aims to correct macroeconomic imbalances, restore external debt sustainability,
and lay the foundations for high, private sector-led growth. The authorities’ policy actions
in the first year of the program have yielded strong results. The transition towards a
flexible exchange rate regime has proceeded with little disruption. Measures to
modernize monetary policy, mobilize domestic revenues, enhance social safety nets,
strengthen SOEs, and anchor financial stability continue to show encouraging results.
Maintaining reform momentum will be important to consolidate gains and support
growth and poverty reduction in the medium term.
Credit Facility to support the authorities’ Homegrown Economic Reform agenda (HGER),
which aims to correct macroeconomic imbalances, restore external debt sustainability,
and lay the foundations for high, private sector-led growth. The authorities’ policy actions
in the first year of the program have yielded strong results. The transition towards a
flexible exchange rate regime has proceeded with little disruption. Measures to
modernize monetary policy, mobilize domestic revenues, enhance social safety nets,
strengthen SOEs, and anchor financial stability continue to show encouraging results.
Maintaining reform momentum will be important to consolidate gains and support
growth and poverty reduction in the medium term.
Subject: Credit, Currency markets, External debt, Financial markets, Foreign exchange, Money, Revenue administration
Keywords: Africa, bank-client foreign exchange transaction, Credit, Currency markets, Global, NBE proclamation, on-balance sheet NOP, Southern Africa, staff appraisal, Sub-Saharan Africa, tax clearance certificate requirement
Pages:
169
Volume:
2025
DOI:
Issue:
188
Series:
Country Report No. 2025/188
Stock No:
1ETHEA2025002
ISBN:
9798229017541
ISSN:
1934-7685
