IMF joins World Bank to support economic reforms in Ethiopia with over $5 billion
Friday, 13 December 2019 17:53
The International Monetary Fund (IMF) and the World Bank will provide a bit more than $5 billion to support economic reforms in Ethiopia, the country’s Finance Minister Eyob Tekalign (pictured) said during a press briefing on December 11, 2019.
According to the official, this financial support will cover about 60% of the about $10 billion needed for this 3-year government economic program. Ethiopia wants to focus on macroeconomic, structural and sectoral reforms that will pave the way for job creation, poverty reduction, and inclusive growth. Focus sectors include agriculture, manufacturing, mining, tourism, and ICT.
According to the African Development Bank (AfDB), Ethiopia's economic growth is expected to reach 9.2% in fiscal year 2019/2020 (July-June) compared to 7.7% in fiscal year 2018-2019.
André Chadrak
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
Tanzania, Burundi and DRC Advance Joint SGR Corridor Linking to Dar es Salaam
05:36
-
Cameroon’s Vice Presidency Reform: A Response to Political Risk Weighing on Sovereign Ratings
20:33
-
Russia, Facing Western Sanctions, Looks to Egypt for Grain and Energy Hub
20:28
-
Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
20:24
-
Djibouti Launches No-Degree Coding School to Tackle Digital Skills Gap
20:05
-
Ghana's 3Farmate Bets on Robotics to Transform African Farming
14:49
-
Togo Exceeds Bond Target as Strong Demand Drives 4x Oversubscription
14:46
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Three nations approve feasibility progress for cross-border SGR project Railway to link cities, boost trade via Dar es Salaam Project faces...
Putin proposes Russia-Egypt grain and energy hub to boost trade Egypt seen as strategic hub for redirected Russian exports Project faces uncertainty...
Djibouti launches École 42 digital training network with international partnership Program offers peer-learning, no degrees, focusing on practical tech...
Failing to anticipate market shifts can be costly for African businesses operating in increasingly competitive and volatile environments. Yet many still...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...