The agreement, supported by the Fund’s Extended Credit Facility and Extended Fund Facility , “aims to support the authorities’ implementation of their ambitious reform agenda and catalyze concessional donor financing,” the IMF said in a statement.
The Ethiopian economic reform program would focus on addressing the foreign exchange shortage and transitioning to a more flexible exchange rate regime while working to strengthen oversight and management of state-owned enterprises. It would also work to free up domestic revenue for poverty-reducing and essential infrastructure spending; financial sector reforms to support private investment and modernize the monetary policy framework; and strengthening of the supervisory framework and financial safety nets, the IMF said.
Ethiopian Prime Minister Abiy Ahmed pledged to undertake economic reforms when he took office last year, with a focus on leveraging private sector investment to help provide jobs for unemployed youth among the nation’s 100 million people. Foreign exchange shortages have worsened in the past five years as the government spent heavily on infrastructure before export earnings from new sectors such as manufacturing took off.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
eNCA News chief Kanthan Pillay fired - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.eNCA News chief Kanthan Pillay has been dismissed with immediate effect from the television news channel. He insulted SABC that idiot All because of Twitter, never underestimate the power of social media Thanks to black twitter
Source: SABC News Online - 🏆 32. / 51 Read more »
North Korean's Kim holds military meeting as tension rises under looming deadline - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.North Korean leader Kim Jong Un held a meeting of top military officials to discuss boosting the country’s military capability, state news agency reported on Sunday... My President Kim Jon Un is a Firecracker or a Nutcracker 💭 time will tell ...
Source: SABC News Online - 🏆 32. / 51 Read more »
England add cover to squad hit by illness in South Africa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.England added two bowlers to their squad on Friday after illness struck the camp less than a week before the first test against hosts South Africa, the England and Wales Cricket Board said. I guess the zoomed in map was broken... Or you just REALLY wanted to show the weather man's entire outfit off.
Source: SABC News Online - 🏆 32. / 51 Read more »
South Africans not splashing out on expensive alcohol - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Christmas is typically a peak selling season and that special wine or bubbly usually tops most shopping lists. But with the tight economic times, South Africans will be positively cautious.
Source: SABC News Online - 🏆 32. / 51 Read more »