Ethiopia has completed the fourth joint review of its economic reform program, with results surpassing expectations and unlocking $261 million in financing from the International Monetary Fund.
In a joint statement issued Tuesday, the Ministry of Finance and the National Bank of Ethiopia said all quantitative performance criteria were met and most targets exceeded, despite global and regional challenges.
The latest disbursement brings total IMF (International Monetary Fund) support under the current arrangement to more than $2.18 billion.
Authorities reported steady economic growth, falling inflation, improved fiscal discipline and gradual rebuilding of foreign exchange reserves.
The government credited consistent policy implementation and its homegrown economic reform agenda.
Market-oriented foreign exchange reforms, including transparent auctions, were cited as boosting export competitiveness and supporting private sector activity.
Revenue collection exceeded projections following tax reforms, while spending controls preserved funding for key investments and social programs.
Officials highlighted progress on debt sustainability, including a memorandum of understanding with official creditors under the G20 Common Framework. They described the deal as a step toward reducing uncertainty and encouraging investment.
Financial sector reforms continue, with efforts to modernize monetary policy, enhance banking oversight and strengthen the autonomy of the National Bank of Ethiopia.
Authorities said the next phase of reforms will focus on translating macroeconomic stability into job creation, increased private investment and higher incomes.
