The Ethiopian government is looking to raise USD 12 billion in financing to implement its new three-year economic reform plan, according to Teklewold Atnafu, economic advisor to Prime Minister Abiy Ahmed (PhD). The funds would come from institutions like the International Monetary Fund (IMF) and World Bank, as well as from restructuring Ethiopia's debts, Teklewold told the Amharic news publication Reporter. However, he acknowledged that policy conditions tied to IMF and World Bank loans could be a sticking point in the negotiations. - Advertisement -One major issue is foreign exchange liberalization, which the IMF wants Ethiopia to pursue more aggressively. The IMF wants the liberalization to occur within one year of funding being released.

Source: Ethiopian News July 16, 2023 12:24 UTC