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
-
Zambia Secures Financing for 32-MWp Ilute Solar Power Project
08:09
-
Cameroon Brings Forward Kribi Refinery Start-Up to Second H2 2026
07:52
-
Rwanda Tops Africa in World Bank’s Business Ready 2025 Ranking
20:27
-
Orabank to Close Four Branches in Togo From February 2026
20:13
-
Carrefour Enters Ethiopia After Ghana With New Franchise Agreement
19:32
-
Cameroon Brings Informal Property Brokers Under VAT Rules
16:05
-
Novarea Textile, Togo Apparels Source Join Adétikopé Industrial Platform
16:01
-
Strengthening the Economic Bridge: Outgoing U.S. Ambassador Shares Vision for Future Cameroon-U.S. Investment
12:30
-
Strengthening the Cotton Value Chain: Crédit du Sahel Formalize Strategic Banking Alliance
11:50
-
Cameroon Scores Mid-Table in World Bank’s Business Ready 2025 Report
11:46
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...
Serengeti Energy reached financial close on the 32-MWp Ilute solar project in western Zambia. The project relies on a merchant power purchase agreement...
Cameroon plans a partial start-up of the Kribi refinery at 10,000 barrels per day in H2 2026. The revised timeline accelerates the project by...
Rwanda ranks first in Africa in the World Bank’s Business Ready 2025 with a score of 67.94. Benin and Senegal enter Africa’s Top 10 for the first time...
Acumen closed a $250 million blended-finance raise for off-grid electricity in sub-Saharan Africa. The H2R Amplify debt fund reached $180...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...