IMF Pledges Ongoing Support for Ethiopia’s Economic Reforms

WASHINGTON: The International Monetary Fund (IMF) has reaffirmed its commitment to supporting Ethiopia's sustainable development and growth initiatives, focusing on the country's ongoing economic reforms. This announcement followed a meeting between senior Ethiopian government officials and IMF Managing Director Kristalina Georgieva in Washington, DC.According to Ethiopian News Agency, the Ethiopian delegation, led by Finance Minister Ahmed Shide, included National Bank Governor Mamo Mehretu, State Minister of Finance Eyob Tekalign, and the Prime Minister's Senior Adviser Teklewold Atnafu. The discussions centered around Ethiopia's homegrown economic reforms and future cooperation with the IMF.During the meeting, Finance Minister Ahmed Shide expressed his appreciation for the IMF's significant contributions to Ethiopia's economic sectors. He presented the ongoing economic reforms aimed at modernizing the economy and achieving comprehensive development.IMF Managing Director Kristalina Georgieva acknowled ged the importance of Ethiopia's macroeconomic reforms under Prime Minister Abiy Ahmed's leadership. She emphasized that these reforms are producing tangible results, which the IMF recognizes as a potential model for other countries. Georgieva confirmed the IMF's commitment to supporting Ethiopia's transformation efforts, including addressing adjustment costs.Both parties agreed to enhance their cooperation on key issues crucial to Ethiopia's sustainable development and growth.