IMF team visits Ethiopia to discuss funding programme

International Monetary Fund (IMF) officials are currently visiting Ethiopia for technical discussions to work on an IMF funding programme in the country, an IMF spokesperson stated on Monday.

The visit comes after the Ethiopian authorities requested financial assistance from the IMF to its economic reforms, following the East African country’s latest drought, the COVID pandemic aftermath, domestic conflicts and the Russian-Ukrainian war.

“A potential program would support the authorities’ Homegrown Economic Reform program and help Ethiopia stabilize its economy so that it can meet its economic, humanitarian, and social challenges, create jobs, and reduce poverty,” the spokesperson said.

The technical discussions are part of the ongoing discussions between the IMF and Ethiopian authorities on how to address the country’s humanitarian and economic challenges, the spokesperson added.

IMF is welcoming of Ethiopia’s progress to restore peace and stability through the cessation of hostilities agreement, as the implementation had progressed well, like restoration of humanitarian assistance and basic services to Tigray, said the IMF.

The IMF program, as well as Ethiopia’s request for debt relief under the Group of 20 Common Framework was hindered as a result of the conflict in Tigray.

The Tigray war had Ethiopian forces and their allies commit multiple atrocities, killing tens of thousands of people, followed by a peace accord in November.