The ECF arrangement was approved by the IMF Executive Board on July 29, 2024, for a total amount of US$3.4 billion (SDR 2.556 billion)
WASHINGTON D.C., United States of America, May 30, 2025/APO Group/ --
- IMF staff and the Ethiopian authorities have reached staff-level agreement on economic policies to conclude the third review of the four-year US$3.4 billion Extended Credit Facility arrangement. Once approved by the IMF Executive Board, Ethiopia will gain access to about US$260 million in financing.
- Ethiopia's macroeconomic performance has exceeded program expectations, with better-than-forecast results for inflation, export growth, and international reserves.
- Maintaining reform momentum remains essential for consolidating recent gains, correcting macroeconomics imbalances, restoring external debt sustainability, laying the foundations for high, private sector-led growth, and ensuring the success of Ethiopia’s homegrown reform agenda.
A staff team from the International Monetary Fund (IMF) led by Mr. Alvaro Piris, visited Addis Ababa from April 3 to 17, 2025, to discuss the 2025 Article IV consultation and the third review under the Extended Credit Facility (ECF). Discussions continued at the Spring Meetings in Washington DC, April 21-28, and subsequently. The ECF arrangement was approved by the IMF Executive Board on July 29, 2024, for a total amount of US$3.4 billion (SDR 2.556 billion). Subject to approval by the IMF Executive Board, the third review will make available about US$260 million (SDR191.7 million), bringing total IMF financial support under the ECF arrangement so far to about US$1,849 million (SDR1,406.4 million).
Today, Mr Piris issued the following statement:
“The IMF staff team and the Ethiopian authorities have reached staff-level agreement on the third review of Ethiopia’s economic program under the ECF arrangement. The agreement is subject to the approval of IMF management and the Executive Board in the coming weeks. A memorandum of understanding with official creditors is expected to be agreed ahead of the IMF Board’s consideration of the third review.
“The authorities’ policy actions in the first year of the program have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption. Measures to modernize monetary policy, mobilize domestic revenues, enhance social safety nets, strengthen state-owned enterprises, and anchor financial stability continue to show encouraging results. Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports, and international reserves.
“Recent policy action should help deepen the FX market and tackle remaining distortions. While real exchange misalignment has been corrected and FX availability has improved from a year ago, the spread between the official and parallel market widened again in early 2025 and high fees and commissions persist. Actions that are being rolled out to enhance transparency, reduce costs, ease restrictions on current account transactions, and strengthen prudential regulation will help to improve the functioning of the FX market.
“Maintaining reform momentum will be key to consolidating gains and securing sustainable high growth. Continued tight monetary and financial conditions will be important for managing inflation and exchange rate expectations. Further revenue mobilization is needed to provide sustainable financing for critical development spending. Reforms to improve the business environment, ensure fair taxation practices, encourage foreign direct investment, and facilitate open dialogue with business will be important to secure private sector investment. Efforts to end the remaining elements of financial repression and develop the capital market will help to mobilize savings and support the efficient allocation of capital.
“The staff team is grateful to the authorities for the excellent policy discussions and their strong commitment to the success of the IMF-supported economic program. The team met with Minister of Finance Ahmed Shide, Governor of the National Bank of Ethiopia Mamo Mihretu, State Minister of Finance Eyob Tekalign, and other senior officials. Staff also had productive discussions with representatives of banks and businesses that are operating in a range of sectors and representatives of civil society.”
Distributed by APO Group on behalf of International Monetary Fund (IMF).
Another old picture
Hi moron! Somalilandpress has no permission to use the related pictures of this topic, so they are showing the old pictures of the same individuals which they hold in their records. Anyway, nobody interests to buy your BS. Go and look for water to drink, capito moron!
Brackish water is too salty to drink!
Maacaleesh
Go learn how to write English, and when you've done that the traffic beckons.
Good news, Tony Hayward is very aggressive person and I hope he will leave no stone turned in these two blocks. I wish , Ophir Energy will act soon in the Guban block and gush out oil from my ancestries grave in Muriye.
Are you a descendant of Bullaale Baarjeex? If so, then expect plenty of applications and I'm the first to do so.
Genel Energy is fast expanding Co. in Africa and Asia, including Kurdistan and it seems committed in unearthing, the bottom of whatever is buried in the Somaliland Soil. So the people of Somaliland with their cash starved Government have to support it.
If Genel can create a $9.6Billion GDP(2010) in Kurdistan when the Territory of Kurdistan is divided between
Turkey, Syria, Iraq, Iran and Armenia.
Kurdistan is a Region and not even a unified country, they are waged in war on 4-fronts, Turkey, Syria, Iraq and Iran.
Yet their region has began to develop far better then the recognized states that claim it's territories and is on a trajectory to becoming the Dubai of the future.
May Allah award greater success to Somaliland-Republic amiin.
The only Kurdish area with self autonomy is in Iraq the rest are brutally suppressed but the next one to watch out to get its freedom is the Syrian Kurds one which Turkey is trying its utmost best it doesn't.
In essence if a Kurdish Region split between 5countries can generate $9.6Billion Gdp.
Then BerBera or Odweyne alone will generate that much money even without recognition
Insha'allah Khair and may Allah make that day a reality as we await our Recognition patiently. Somaliland will always remember to help the refugees and drought victims of the horn of Africa therefor a wealthy Somaliland will reduce Horn of Africa's AID dependency at the very least…
Somalia: U.S. State Department Daily Press Briefing: MS. NULAND lift it on the government but maintain it on entities ie Putland Sland whatever land http://allafrica.com/stories/201302121020.html
Don't you see the problem is not Somaliland-Republic nor the various provinces of Somalia.
The problem of arms proliferation and resale have always been the problem of the weak transitional governments and this current "Replacement Provisional Government" [RPG] is non inclusive and non-representative of the people it proports to govern.
There is a higher likelihood that any weapons that are given to the [RPG] will continue to find their way into the hands of insurgents and militia who have the $$ to buy these weapons. The UN special report on Somalia uncovered the level of Arms resale by the Government soldiers is as high as 80%.
To be honest no civilized reasonable person will be advocating the supply of more weapons to undisciplined criminal security forces that are alleged to commit 90% of armed robbery, rape and murders.
kkkkkkkkkkkkkkk,buxi. what happen to somaliland region project it looks going to sewage drain.
samale.
If you think centralize moryaan goverment will rule all of somalia than you need to think twice, because it's not gone happen. all semi-autonomous states will run own local affairs that's for sure.
Somalis know how's supplying weapon al-shabab, i don't need to go into details.
And you need to get out of your 90's rhetoric's
PS i can call you faqash put who does that help me what a pea brain
Samale,
This shows how stupid your and the problem is you hardly understand anything. did know 90's rhetoric's is well and live now than ever before since culusow took the wrong direction. but the good thing is IC told him clearly to stay away local semi-autonomuos states affairs.
As long IC running and controling moryaan led goverment than very thing will be smooth.
Abdi in a Democracy that is what happens we have 22-years of experience
The level of opposition and their destructive power is visible in Somaliland.
Is Somalia prepared for multi-party ELECTION???
You have more Clannistic issues then we do. If after 22-years Mucaardnimo is causing so much headache i feel sorry for Somalia or Djibouti when they try Full-Democratic elections.
Somaliland-Republic will survive the storm unfortunately a few passionate citizens might experience heart-attacks or strokes but the Majority will smile on. Gaining Recognition is Live, it is the source of our energy to be engaged in politics, it is the source of our desire to develop and it has been beneficial for 22-years… it will not harm us if we are chasing it for another 22-years.
The big question is for how long will the people of Somalia be content with 1-party rule ???
– Hassan will wait til the last day of his term to beg an extension of term.
– Hassan will wait till the last month of his term to allow only another SELECTION process.
– Hassan will never support a multi-party state in his term
– Hassan will amend road-map constitution to support a 1-party system
Silly questions i guess the people of Somalia will receive more services from Dahabshiil then the Vila-captive government.
KKKKKKKKKKKKKKKK We are all swinging in sewage as far as the Somali name is concerned it can't get any worse.
Buxi.
It's big slap on the face somaliland project from IC specially the brirish your masters. somaliland never held genuine democracy election it was all one clan election system like the way somali Elders use to do hundred years ago.
If somaliland region did get"recognition" the last twenty years it will be impossible to get one now, because the ODDS are ( one in a thrillion).
Dahabshill is one of somali money transfer company, i don't think somalis rely on dahabshill they are other bigger companies in somalia it's childish to say that. also bare in mind dahabshill they are in deep trouble since british and american announcement about somaliland region.
Hassan culusow will go after four years that is for sure. they are two things ppl can't avoid,one is death and the other one is taxes.
As we speak somaliland fake mission led by seccessionist is GONE for GOOD, it's unfortunate it has come to this. ofcourse all somali name is painted with sewage, but same are still swimming the in SEWAGE such as s/land while others are washing of.
You're somewhat right their role was pouring more gasoline on top of the fire to make sure it keeps burning.
About the lifting the Embargo first of all the reason why the SNA were/are selling their weapons ammunition's is because they weren't getting payed for months but with this government getting recognized changes all that because of the $£ that's about to come their way with the recognition.
"We will need to help countries like Yemen, Libya & Somalia provide for their own security." -President Obama the West is very serious about getting Somalia back on its feet why well i could write a whole book why but lets just say its political.
Also the West will be keeping a eagle eye on the weapons it's also helping that this new government has so far proven to the IC its not corrupt maybe down the line but not his cabinet.
6-Months and you are claiming they are not corrupt?
– Hassan Mahamoud won a SELECTION process by buying 190votes out of 271.
– Hassan Mahamoud won his post as part of a Road-Map process which was held for and only conducted in the Somalia-territory (Italian-Somalia) that gained it's independence from ITALY 01-Jul-1960.
– Parliament contains diaspora residents who are being paid $2000/month while they continue to live in the diaspora.
– 2 Parliamentarians namely Ahmed ismeal samatar and Ali khalif galydh have alleged on international tv that Hassan mahamoud purchased the 190votes and the UN, Arab-league, EU and AU representatives have all witnessed the vote purchase process.
Not even 6months in office as such the USA recognition is not a reflection of the Replacement-Provisional-Government[RPG] capability after all:
– 1.5million idps still depend on food aid in the Capital of Somalia-Italia-federation
– Constitution is still transitional as such will be changed.
– 20,000 AU troop still keep the Vila safe
– Kenya is still occupying the Juba valley
– Ethiopia is still occupying the south-central regions.
– Somalia security forces are still committing 90% crimes including murder, rape, extortion and arms proliferation.
USA simply needs a "puppet government" able to sign away state & public rights so they can continue to violate state territory land, air and sea. CIA will continue to control the Airport and port and it's allies will setup base in as much as Djibouti and hence another cribbled state is born. Just as Ismael Omar Gelleh can remain in power till his death so will Hassan Mahamoud only to be replaced by one of their Sons.
Stop lying to your self yes SHSM had powerful people behind him but the number one reason Sharif lost is because the speaker and the Pm made sure in the second round all the people that voted for them in the first round went to SHSM
The rest i'm not even gonna entertain you with your usual rhetoric all i can say is go and see your GP for more prescription
ha….ha…..ha……
All Siilaanyo can do is to meet petty traders….kkkkkkk
Will Cameron be the next picture? I bet noooooo…….LoL
Mr. Siilaanyo, please just rest and sleep in the house you built from the looted snm money!!!!!!
You need it……..Ha…..ha…..ha…..
This is too real and happening fast track. Woes to all those wailers and haters of Somaliland.
Cheers.
Bro no disrespect but this guy Hayward is the most business minded cutthroat savvy of the oil industry who wont give two cents about the environment.
This is the same guy that was seen having fun yachting when the BP gulf crises was happening and that is against the Americans imagine what he would do against a third world country ?
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Haters keep hating while Somalilanders keep Grinding!
A somaliland Mp seen wandering in Mogadishu http://www.soomaalinews.com/xildhibaan-ka-tirsan-…
As it says, he was with business men trying to make a profit on your starving @ss
Kaboon maybe there are Redlight districts in Muuqdishu?
Every African is running there like it is the NEW Taiwan…
On the way:
– Nigera
– Siera Leon
– Ghana
– South africa
– Congo
Maybe they are serving some super Ugaali shuuro?
You know what he's there for don't lie to your self have some dignity you tribal enclave days are numbered
LOL Your people have been waiting for 22-years.
MAY Allah reward your land with what ever you wish on ours. Amiin
16-Districts in Muuqdishu and 15 of them are governed by Hawiye how the hell is Muuqdishu the Somali capital,,, it is the Hawiye Capital and 50% of Muuqdishu properties belong to non Hawiye…
Now tell me whose lies and project is about to fail and burn down to the ground.
Personally i would like to see a beautiful totally rebuilt Muuqidshu because there is no real point of burning down a rubbish heap!!!
Please rebuild Muuqdishu
it will be more enjoyable that way… Put every penny you have into Muuqdishu please… Good
P.s
Has Hassan Mahamoud received the $3Million aid donation promised by David Cameron?
Hassan looked like a Romanian hustler in the UK he was only missing his fake gold teeth
20+ years of so called peace, and Hargeysa looks like a village, even worse than before 1992
lol these guys are the worst deluded people i have ever come across bro for the last 20 years we were concentrated within ourselves.
Firts of all it was £ not $ second don't get watery eyes when the World banks start giving SHSM billions of $ and the IC starts equipping the SNA as soon as the Arms embargo is lifted
1. I would like to see Muuqdisho built to look like Dubia.
2. I am happy to see SNA given land mines, helicopters, tanks, scud rockets, nerve gas etc.
You know why i will keep a clean heart???
Because every success Muuqdishu makes the Isaaqs, Daroods, Dir and Rahanweyn who had their properties stolen will burn from the inside, you see i will give my blessing to Muuqdishu because there are enough people who will be trying to burn it down.
Muudisho the Somali capital where 50% of the properties are stolen or bought with Kacaan proceeds
Please invest all your Ic donations and world bank loans in rebuilding the Stolen capital
A State capital with 15 out of 16 Districts governed by Hawiye
Muahahaha
Good luck
Tony Hayward, former BP c.e.o. is a big player in the oil industry and can make things happen just like that. Don't worry you haters! you'll soon all work for us as cheap labour from Somalia.
wasn't Siilaanyo supposed to hook up with his mutual friend david cameron?
I hope this will cheer the cockroaches Ethiopian stooge (SNM)
Abdullahi yusuf used to be siilanyo's wife though
@Irir Samaale
do what you gotta do but do it quick that arms embargo need to be lifted up ASAP to confront the Ethiopian stooge (SNM). I got me list all prepared of what weapons I need to rumble Hargeisa into ashes.
PuntlandGeezer,
Stupid and silly. Stupid because you never seem to be able to realize who you are and whom you are talking to. The natives of Hargeisa, Burco, Berbera, and Ergabo were those who deteated you, delibilated you, and dragged your dead bodies on streets of Burco, and who wiould tame you and your likes, if the need arises, in the future.
Just keep wailing, ranting and raving after Somaliland. You are a hopeless man who hate has just overshadowed. Nothing else. Blow up yourself. That would better for you
Usual darood drivel and whining.
Time to deport these jews to isreal
Punt Pis are you going to shoot us with your BRACKISH water in a toy pistol???
Same old oil stories ah ah. I will believe when I see it