Reported 3 months ago
The International Monetary Fund (IMF) has approved a $3.4 billion funding program for Ethiopia aimed at supporting economic reforms and restructuring the nation’s $28.4 billion external debt. The agreement will provide an immediate disbursement of around $1 billion, helping Ethiopia catalyze additional financing and navigate its financial challenges, which have been exacerbated by a civil war and economic pressures. IMF Managing Director Kristalina Georgieva emphasized the significance of this approval as a marker of Ethiopia's commitment to transformative reforms.
Source: YAHOO