The International Monetary Fund (IMF) has projected Ethiopia’s economic growth to contract in 2020 and 2021, with the growth returning to pre-pandemic rates by 2022.

The International Monetary Fund (IMF) slashed the projected economic growth of Ethiopia for the second quarter of the year 2020 from 6.2 percent to 3.2 percent because of the impacts of the on-going COVID-19 crisis. The third quarter of the same year is also projected to see a decline of growth from 6.1 percent to 3.7 percent.

The International Monetary Fund (IMF) has predicted a 7.2 percent economic growth for Ethiopia in the year 2020. The government had previously forecasted a 7.4 percent economic growth for the same period.

Projects a nine percent GDP growth Unlike preceding Article IV consultation reports on the Ethiopian economic affairs, the International Monetary Fund (IMF) has relaxed its judgment on how the government of Ethiopia is managing the economy.