Ethiopian Economy Resilient Despite Weak Global Prices - IMFSeptember 28, 2017 - Ethiopia's economy has shown a strong resilience in 2016/17 despite weak global prices for its export items and re-emergence of drought, reports ENA. The remark was made by IMF staff team following the visit to Ethiopia from 13 to 26 September 2017 to conduct the '2017 Article IV consultation' discussions with Ethiopia. The IMF staff team, in its press release said, "The Ethiopian economy showed strong resilience in 2016/17 amid continued weak global prices for Ethiopia’s key exports and re-emergence of drought conditions in parts of the country”. Nevertheless, exports continued to stagnate due to weak global commodity markets and delays in completion of key related projects. Noting that social needs remain large, the staff team supports Ethiopia's intention to protect pro-poor spending programs.

Source: Ethiopian News September 28, 2017 18:56 UTC