IMF Reaches Staff-Level Agreement with Ethiopia, Unlocking $261 Million in Funding
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The International Monetary Fund reached a staff-level agreement with Ethiopia on the fourth review of its four-year $3.4 billion Extended Credit Facility, approved in July 2024, enabling a $261 million disbursement pending executive board approval. The tranche would bring total IMF disbursements under the programme to about $2.13 billion, supporting macroeconomic stabilization and structural reforms to restore debt sustainability.
The IMF said Ethiopia has made “strong progress” in implementing reforms but urged authorities to “maintain reform momentum, keep a tight monetary stance, and encourage private investment to consolidate stability and support growth.” Ethiopia entered the G20 Common Framework after defaulting on its Eurobond in late 2023 amid conflict and climate shocks; while official bilateral debt restructuring is agreed, commercial creditor talks on potential haircuts remain ongoing.
