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.