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
-
Access Holdings Plans ₦40B Capital Raise Ahead of Recapitalization Deadline
17:15
-
Impact Funds Now Manage Up to $80 Billion Across Africa, Report Shows
17:12
-
Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
17:02
-
Zambia Unveils National Strategy to Protect Young Internet Users
06:18
-
Togo’s Edomatch Targets Faster Hiring With Mobile Recruitment Platform
06:09
-
Hussein Wahdan Automates Enterprise HR Management
06:00
-
Guinea Seeks to Modernise Its Civil Service to Meet Labour-Market Needs
05:59
-
FSD Africa Rolls Out $30Mln Fund for African Insurtech Innovators
14:14
-
CHR Lomé-Commune Commissions New Medical Scanner
13:56
-
Access Bank, in Partnership with IFC and AGF, launches Cameroon’s First-Ever Womenpreneur Pitch-A-Ton
13:42
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Government, ESCWA, and experts meet to shape national framework Plan aims to fight corruption, c...
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...
Impact funds in Africa manage $70-80B; half operate solely on the continent 124 of 250 identified funds invest exclusively in Africa, FERDI...
Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges reforms in governance, talent, finance and R&D to...
The government launched FUGAS, a new digital administrative and payroll system, as a strategic reform tool. The initiative forms part of a broader...
Yttrium oxide prices jumped from $6/kg to $220–320/kg after China restricted exports. South Africa prepares to enter medium-term yttrium...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...
Orange Egypt and Qatar’s Qilaa International Group have partnered to develop WTOUR, a digital platform offering trip planning, hotel bookings, local...