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IMF revises growth projections amid COVID-19 crisis in Ethiopian

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.

IMF says, layoff Non-Concessional Borrowing

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.

Ethiopia to avoid non-concessional loans

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.

IMF chief calls for opening up of economy

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.

IMF softens tone on Ethiopia, projects high growth

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.