(Xinhua/Chen Fei)ADDIS ABABA, Sept. 28 (Xinhua) -- The International Monetary Fund (IMF) has praised Ethiopia's economy for showing strong resilience during the past fiscal year amid continued weak global prices for Ethiopia's key exports and the reemergence of drought conditions in parts of Ethiopia. In an assessment report released Wednesday, the team commended Ethiopia's economy for maintaining strong resilience despite the back-to-back drought that wreaked havoc in some parts of the east African country. "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. IMF further advised the Ethiopian government that monetary policy should also be tightened so as to complement the restrictive fiscal stance. The IMF staff team, during their stay in Ethiopia, had presented its key findings and recommendations to senior Ethiopian officials including Ethiopian Prime Minister Hailemariam Desalegn.

Source: Ethiopian News September 27, 2017 17:37 UTC