IMF and Ethiopia Reach Milestone in Lending Program

The International Monetary Fund (IMF) and Ethiopia have reached a staff-level agreement on the fourth review of a $3.4 billion lending programme. This paves the way for a $261 million disbursement, awaiting the approval of the IMF's board.

The International Monetary Fund (IMF) and Ethiopia have achieved a significant milestone by reaching a staff-level agreement on the fourth review of their $3.4 billion lending program.

This development is a pivotal step forward, preparing the ground for the next disbursement of $261 million, contingent on the IMF board's approval.

The IMF made this announcement on Wednesday, highlighting the ongoing collaboration between the financial institution and the Ethiopian government.

(With inputs from agencies.)