Ethiopia expects IMF visit in September – Finance Minister official

Date:

Share post:

LONDON (Reuters) – Ethiopia expects an IMF mission to visit in September, following a visit by the Fund three months ago, a finance ministry official said on Tuesday, noting that an IMF program was necessary to restructure its debt.

Ethiopia expects an IMF mission to visit in September, following a visit by the Fund three months ago, a finance ministry official said on Tuesday, noting that an IMF program was necessary to restructure its debt.

Ethiopia’s bilateral creditors, co-chaired by France and China, first met in September 2021 but progress on debt relief has been complicated by a 21-month civil war that began in the northern Tigray region.

The bilateral creditor discussions, held under the G20’s Common Framework debt restructuring process, were “stellar” but the newness of the process had contributed to delays, Brook Taye, a senior adviser at Ethiopia’s ministry of finance, said at a virtual event hosted by the African Development Bank.

Addis Insight
Addis Insighthttps://addisinsight-net.addisethiopiarestaurant.com
Addis Insight is Ethiopia’s fastest growing digital news platform, providing consumers with the latest news from Ethiopia and its diaspora. We provide marketers with innovative opportunities to leverage our stories and overall brand with a fiercely curious and highly engaged audience.
spot_img

Related articles

The Fate of Wolkait, Gondar-Amhara and Ethiopia

By - Girma BerhanuFar-reaching implications of an evolving quagmireThough who first coined the phrase “geography is destiny” is...

Creative DNA: Ethiopia Programme Announces Second Cohort of Early-Stage Fashion Designers

PRESS RELEASEADDIS ABABA, 18 MARCH 2024  Creative DNA: Ethiopia, an innovative fashion incubation  programme dedicated to nurturing early-stage...

Unveiling the Unspoken: The Untold Story of the Pretoria Peace Deal’s Inevitable Demise

By Sisay AmorawIn the grand theater of Ethiopian politics, there are several moments when the script reads like...

Intense Clashes Erupt in Bahir Dar Amidst Rising Tensions

Residents of Bahir Dar, the capital city of the Amhara region, have reported to the BBC a fierce...