Ethiopia has secured an additional 464 million US dollars from the International Monetary Fund after the lender concluded that the country’s economic reform programme remains broadly on course, while also approving about 200 million US dollars in extra support to cushion the economy against higher fuel import costs triggered by the war in the Middle East.
The latest disbursement follows the IMF Executive Board’s completion of the fifth review of Ethiopia’s 48 month Extended Credit Facility programme. With the new release, total IMF disbursements under the arrangement have reached about 2.647 billion US dollars. The programme, approved in July 2024, has a total value of SDR 2.556 billion, equivalent to about 3.4 billion US dollars at the time of approval, and is intended to support Ethiopia’s Homegrown Economic Reform Agenda.
The Fund said implementation of the programme has remained strong, with all quantitative performance criteria and most indicative targets achieved. Although the government’s contribution to the Productive Safety Nets Programme was below target, higher than expected donor financing resulted in total support to beneficiaries exceeding programme objectives, including additional assistance for urban households affected by external shocks.
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