The Federal Democratic Republic of Ethiopia: Fifth Review Under the Extended Credit Facility Arrangement, Request for Rephasing of Access, Modification of Indicative Targets, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

International Monetary Fund

No 2026/174, IMF Staff Country Reports from International Monetary Fund

Abstract: In July 2024, the Board approved a four-year arrangement under the Extended Credit Facility to support the Ethiopian authorities’ Homegrown Economic Reform agenda (HGER), which aims to correct macroeconomic imbalances, restore debt sustainability, and lay the foundations for high, private sector-led growth. Progress under HGER continues, with better-than-anticipated macroeconomic outcomes to date. However, the Middle East war represents a significant external shock that is generating short-term financing pressures. Thus, maintaining positive macro momentum will require adroit responses to emerging challenges and continued effort to strengthen the foundations for private sector-led growth.

Pages: 132
Date: 2026-07-13
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