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).
who should be recognised reer hebel that won't happen mister just get used to it onething for complement is that you have tried to become a nation under the banner of tribal system but didn't work . Goo back to your Somali people with love and care
What a mindless person you are,who in their senses would go back to those who once murdered and pillaged them? people like you are driven by ignorance and greed and good riddance to the likes of you.LONG LIVE SOMALILAND where intelligence and tolerance is the norm.
some people,like the above poster are so bereft of understanding,let me ask you a simple question:would you go back to a people who once slaughtered and pillaged your people? apparently you with your mind set would given enough money but the people of somaliland are not selling themselves as your kind would.LONG LIVE SOMALILAND.
You boy, I hate such foolish words comes from your inner stomach. You committed an act of genocide in Somaliland people. Over one million people were displaced , more than 800,000 were made refugees in east Ethiopian camps, were hunger, cold and child labor was the order of the day. And also more than 200,000 have been killed, and more have been maimed or injured.
We will not forget the time we were frightened to walk down our own streets for fear of being murdered, robbery and rape. We have seen pictures of our educated people slaughtered, our fathers having been beaten up, and our sisters having been raped by you.
“Somaliland’s independence is irrevocable and its people will fight for their rights and freedom what ever it costs”
Farhan A. Suleiman (Oday)
Hargeisa, Somaliland
Farhan A.Suleiman i agree with you 100% SOMALILAND IS HERE TO STAY COME WHAT MAY LONG LIVE SOMALILAND AND DOWN WITH ITS ENVIOUS HATERS!!!.
Haloo Guys !!!!
Wax baad illowdeen,
Ma idiin sheega, horta haa yiraada.
Kenya, weligeed dad aya laha.
Daniel Arap Moi Iyo OObootihi Uganda ,
Labada ba skuul anaa Skuul kooda ka bixiyey.
Hadey xuumatoo, Hablo Soomaali kuu sheganaya
MA iyo wexeysheegtaan ba, hortaada la kufsanaya
Soomali , Soomali aya ceebys.
Long live Somaliand !!!!!!!!!!
@Kenya, Ilaahay waxaad galabsateen buu idinka goynayaa. Because adoo kale oo qabyaalad dabada ku wata ayaa idinku badan. Qabyaalad annaku ma naqaanno, kumana adeeganno. Somalilander is a Somalilander to us. Cidda dawladdii qabiil ku burburiyey ee weli dagaal iyo hanjebaad looga fadhiyi waa idinka. goor ayse noqotaba waydin eedi, edeb-darra iyo afka dheer aad Somaliland ku aflagaadaynaysaan. Haddi daandaansiga la dayn waayo, wax aydaan ka soo kabmi karrin ayaa ka dambayne maydin joogi. Ninkii baxaya, indhaha ayaa casaadee! Mar labaad haddii ay Somaliland qoriga qaado, waxaad ogaataan inaannaan dhigi doonin. Ilaahayo, mar la ciil dirirayo itus!
We were a nation and we are a nation now and we are going to stay a nation forever. And nothing you (Somaliland diid) have to say will change anything. So, waxba hays xiiginin.
the somalis are the main course of their treatment by the kenyans,they have destroyed their country by murdering each other by the thousands and then flee across the border to kenya is it a wonder that the kenyans see them as less than human? by writting these words am just pointing out the truth on the ground but far from agreeing with how the kenyans are treating somalis.
When My spouse and i originally alleged I visited the Discern me when new notes are extra checkbox and today all calculate a observe is further We get a number of e-mails with the same analysis. Is near a few mode you can with no trouble take out men and women from that service? Bless anyone!