A general view of the skyline of Addis Ababa, Ethiopia on November 3, 2021. Ethiopia is undergoing major reforms, including floating its birr currency and pursuing an $8.4 billion debt restructuring with official creditors.
The executive board of the International Monetary Fund has approved the third review of Ethiopia’s $3.4 billion loan programme, the IMF said on Wednesday, unlocking access to $262.3 million in financing as the country continues debt restructuring talks.
Ethiopia and IMF staff reached a staff-level agreement on May 30, citing “strong results” from the first year of the programme, which aims to stabilise Ethiopia’s economy amid ongoing debt restructuring negotiations with official creditors and bondholders.
