IMF reaches staff-level deal with Ethiopia, unlocking $261 million tranche
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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, paving the way for a $261 million disbursement subject to executive board approval. The tranche would lift total IMF payouts under the programme to about $2.13 billion, bolstering macroeconomic stabilization efforts and structural reforms aimed at restoring debt sustainability.
The IMF noted Ethiopia has recorded strong progress in executing reforms but called on authorities to sustain reform momentum, maintain a tight monetary policy and foster private investment to lock in stability and drive growth.
Ethiopia joined the G20 Common Framework after defaulting on its Eurobond in late 2023 amid conflict and climate shocks, with official bilateral debt restructuring now agreed while negotiations with commercial creditors on potential haircuts continue.
