IMF approves $3.4bn extended credit facility for Ethiopia's forex shortage, reforms, and debt restructuring.
The International Monetary Fund (IMF) has approved a $3.4 billion extended credit facility for Ethiopia, following five years of negotiations. The funds will help relieve forex shortage challenges, support reforms, and enable Ethiopia's ongoing debt restructuring with creditors. The IMF board's decision comes just one day after Ethiopia moved to float its foreign currency policy regime.
July 29, 2024
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