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).
We fed up of used conferences. We are fed up of conferences whose agendas are made by foreingers who are working for their interests and not working for what is good for Somalis. We Somalilanders are well conversant with political rhetorics.
Which are you Somali or Somalilander, Because the trend among your fellow Somalilanders is to deny being Somali all together.
but the support for somaliland is decreasing as more and more people see the hostile and primitive side.(Land grabing)
kkkkkkkk lots of daroods whining
Somalilandpress why did you released this sick dog? Please erase all his comments kkkkkkkkkkkk.
Sahra,
Inaabti, forget politics its no good. Talk about love, darling.
oh well
Here is another retard, they must be something the water or blue flag.
Here is a 3rd grade lesson.
Somali = ethnicity
People from Somaliland as the name SUGGEST are SOMALI. In the same way people from FinLand are Fin.
Somaliland is the only Somali inhabited territory of the Five that is 100% Somali.
Aren't Soamlilanders and Djiboutians the one's who deny their Somalinimo and say they have their own culture. Even the Wagosha community is more Somali then you and your likes. This is 2013 the way I see it, if you are not trying to help your country then you are not Somali.
LOL Somali=Nationality AND ethnicity.
Finish not Fin=Is Ethnicity AND Nationality
Somalilander=Isaaq,few misguided Dhulbahante and few Dir.
kfc lets not lie to ourselfs, we all know that atleast 95% of dhulos support somaliland. Now i don't care what you daroods claim but don't forget that Issaqs made somalia, they made everything from flag to national anthem
The people who made the Somali flag and national anthem were great Somalis who believed in nationalism and not secessionist or weak minded like the Somalis of today. No one section of Somali society can claim or own our collective history.
tellmetruth
they changed their minds when they realized that sub humans can never be equals
Good one, Kaboon :-)!
Not really, baboon only knows how to be despicable and think like narrow mind sub-human, because if a group or individual gives you complement any civil individual or society would appreciate the kind words and thank them.But that's when we're talking about decency people, not someone like baboon whose behavior is consistent and has all the sign of street person.
Djiboutians aren't Somali either?
Nfd?
Kilil?
Being Somalian has been stained by Faqash and their Hutu slaves.
In the meantime Somaliland gov is busy in refurbishments and praising itself while the rest of the World is busy in re-unifying the two states of Somalia and Somaliland http://www.medeshivalley.com/2013/02/more-offices…
Wallahi some of these people are mentally handicapped.
ONLY Somalis can unify themselves. As long has the people of Somaliland want NOTHING to do with SOMALIA. The whole universe will not be able to force them. SIMPLE
~Unity was historically driven by the quest to unite all 5-Region settled by Somalis. 3 of the 5-regions have gained independence namely Somaliland, Djibouti and Somalia. Of the 3-states 2-joined in 1960 and those two have experienced the status of most failed-State in the 30-years of the union. Somaliland have experienced peace since it regained it's re-independence.
The problem for UNION that has to be addressed is that the burden of proof lies with the wishful dreamers that want another Union.:
1. Proof the benefits of a Reunion
2. Proof a Reunion has chances of incorporating Djibouti, Kilil and NFD in the long term.
3. Proof lessons have been learn from past Failure of Union attempt.
4. Proof without a reasonable doubt that the Peace, Prosperity and preservation of life is served in the denial of Somaliland's Majority democratic desire to protect their 26-Jun-1960 territorial independence and territorial borders in accordance with the AU-state border charter and the founding principles of the notion of statehood in the African Union.
5. Proof that they have the capacity and the intention to deliver any form of governance outside their 4sq Km Amisom guarded compound in Vila Muuqdishu where even the 1.5Million IDPs still remain unresolved and in dire need of honest leadership to relocate them back to their homes.
18-May-1991 Unilateral declaration of re-independence by 1-state of the original union is an issue that cannot be ignored. It was the democratic wish of the Majority of one of the states. Somaliland has enjoy relative peace since re-independence, Somaliland government is far more responsible and accountable to it's people over the last 22years. Majority of the population of the two states being under the age of 22years, Somaliland(70%) and Somalia(80%) Have grownup with the understanding that Somaliland & Somalia have different Flags, Currency, Governments, Capitals and aims and aspiration.
THERE IS NO COMPULSION IN UNION… it is a byproduct of the love people have for creating a SHARED NATION… otherwise Union becomes a TOOL with which a NATION commits suicide by loosing any form of political integrity in world view or in the eyes of it's population.
2-STATE solution is a permanent solution to avert the potential future war of independence that will undoubtedly occur in this situation.
Union can occur on many levels:
– Security cooperation
– Education standards alignment
– Health delivery
– Trade licencing
– Cultural exchange
However we will never share any form of Political umbrella short of being members of the same AU, UN and Arab leagues.
Somaliland leaders have use this conference as an Ultimatum. If there isn't a clear path for Somaliland internatinal recognition has the 55 African state by the end of this conference. No more Mr nice guy, gloves have got to come off.
Some of us are so dumb! This so called conference is not for Somalis interest whether you are from Somaliland or Somalia but mainly for Western interest. They don't care if you're killing each other or have not country as long as they secure their ships passing through and there are no threats from Al-shabaab etc.
The Ambassador is called Amb of Somalia. The event is "co-hosted" by Somalia and UK. Not one thing about Somaliland there. Even the Twitter links are all about Somalia. What is in here for Somaliland?
The majority of Somalis are avoiding the crucial question: How t make a state out of unwilling partners. Even the hardest controlling figure can not force a partnership between unwilling brothers; brute force aside – a step not advisable considering the 20 year mess in Somalia and the volatility of most of the regions in the Horn of Africa. Let wise heads prevail because establishing a partially fractured state is prelude to further chaos in the future.
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These Marathon conferences are good for Somaliland, because the more the Somalia thugs are exposed to the International community the more the International community will understand and sympathize with the Somaliland's quest for sovereignty.
Somalia Mafia will never substantiate and entice Somaliland in rejoining Somalia. Simply because there is no benefit for Somaliland to rejoining Somalia in a union. We have had thirty years of union and more than two decades later we are still suffering of the consequences of that cursed union with Somalia.
Since 1991 the number of conferences and their locations for the 2-State that made up the Somali republic::
Somaliland-Republic held 2 Conferences BOTH within their borders Boorame & Burco. The result was a consensus and a working relationship within the Territorial borders of Somaliland- Republic.
The second Half of the Former United Somali-Republic has had 17 Conferences ALL held outside their territorial borders with this London Conference making the 18th attempt to Salvage a LOST cause of a failed state.
Somaliland-republic has been a strong stable partner in the fight against the spread of poverty, piracy and radical militants in the Region if the intention of this conference is to EXPAND and build of the hard work achieved against the THREE axis of Statelessness in Somalia then:
1. The neighboring countries that have direct impact on sustainable change should have been consulted and acknowledged for their hard work and contribution for over 22years. Neighbors like Ethiopia, Somaliland, Djibouti and Kenya.
2. The agreements reached in 2012 Conference should have been achieved and made a foundation to build Conference-II. This has not been the case. The promised Joint Financial Management Board to prevent corruption has not been set up. The 2-STATE dialogue Between Somaliland & Somalia which should have been a prerequisite to London Conference-II have not made any meaningful progress.
3. Somalia's SELECTED government without the legitimate jurisdiction to claim the sovereign State of Somaliland-Republic is expected to represent and agree Financial development funds for a United-Somali-Republic that ceased to exist 22years ago.
This whole Conference is a fraud and it is most likely that the agreed funds will never reach the 1.27million refugees of Somalia that are in Dadaab, Dollo Ado, Yemen or those scattered across the African continent.
The money of the Donor Body is simply going to be distributed between foreign bank accounts and it is more then likely the So call "government" of Somalia will never see more the 7% the overall funds donated. It is a day light fraud of international scale by top political elite who speak the same language. For in Somalia there is simply no paper trails and as such it is the perfect country to do fraud with having no media infrastructure or free press in the state makes it that much easier.
Instead of calling it the Somalia-Conference simply rename it:
The Vila Muuqdishu- Conference.
As not a single cent will reach outside the gates of Vila Muuqdishu just has happened for 22-years. This is why 70% of the population still support Shabab and will continue to support Shabab for the foreseeable future in Somalia. As soon as Amisom withdraws Radicalism and piracy will resume unhindered by the SELECTED men in suites who have no Vision to change the trajectory of event to unfold in Somalia.
And on goes the Poverty…
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Perder Peso
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