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Vol 65 No 19

Published 20th September 2024


Ethiopia

Home-grown reforms and political muscle seal $3.4bn IMF deal

Government forecasts strong growth but its shifts on devaluation and economic liberalisation will have to show results quickly

Backed by a US$3.4 billion IMF extended credit facility (ECF), Prime Minister Abiy Ahmed’s administration has a fighting chance to return the national finances to debt sustainability and raise living standards. Ethiopia’s economy could be growing by 8% in real terms by its 2027/2028 fiscal year, according to the IMF.

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