Tag: IMF

In its latest staff report released this week, dubbed “Article IV Consultation for 2018,” the International Monetary Fund (IMF) stated that Ethiopia has to restrain from accessing any Non Concessional Borrowings (NCB) for the upcoming fiscal year, respecting the agreed up on zero ceiling limit on its commercial borrowing portfolio.

The International Monetary Fund (IMF), in its latest report regarding the Ethiopian economy, projects the GDP to grow by 8.5 percent by 2018/19.

While on his private first visit to Ethiopia, a prominent US economist and professor at George Mason University told local reporters that he is optimistic about Ethiopia’s economy while signaling areas that challenge the country’s future.

After shunning repeated call from the International Monetary Fund (IMF) and the World Bank Group (WBG) to limit commercial borrowing, and feeling the pressure of the accumulated external debt of Ethiopia, the Ministry of Finance and Economic Cooperation (MoFEC) has decided to strictly avoid non-concessional loans from foreign creditors for an unspecified period of time, The Reporter has learnt.

During a historic first visit to Ethiopia by a head of the International Monetary Fund (IMF), its managing director, Christine Lagarde, stressed that there was no harm in letting the private sector operate in the economy.