Program performance under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) has been strong. Program design has been adjusted to account for the pandemic, and the authorities remain committed to medium-term reforms. The IMF mission reached a staff-level agreement on policy measures for the completion of the first and second reviews under the ECF-EFF arrangements. Discussions were focused on the first and second reviews of Ethiopia’s economic program supported by the IMF’s ECF-EFF arrangements. The authorities’ wide-ranging policy responses have mitigated some of the impact of the crisis while supporting macroeconomic stability.

Source: Ethiopian News February 23, 2021 14:48 UTC