Wednesday, July 24, 2024
NewsIMF talks end without agreement

IMF talks end without agreement

A two-week round of discussions between Ethiopian officials and an International Monetary Fund (IMF) delegation in Addis Ababa has ended without a financial package deal, according to a statement from the Fund released yesterday.

An IMF team led by Alvaro Piris “made substantial progress towards establishing how the IMF could support [Ethiopian] authorities’ economic program” between March 19 and April 2, 2024, but did not ink a staff level agreement, according to the statement.

An IMF staff level agreement by the end of March was listed as a precondition by bilateral creditors when they approved a temporary debt payment suspension for Ethiopia in December 2023.

It is unclear whether creditors will enforce the deadline or allow for an extension. Talks between the Ethiopian government and the Fund are set to continue during the IMF/World Bank Spring Discussions in Washington later this month.

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