The International Monetary Fund’s executive board of directors is scheduled to meet this week to discuss Ethiopia’s latest review under a $3.4 billion loan.
The formal meeting for the extended credit facility is set for Jan. 17, and will pave the way for the completion of the second review of the program, after the Washington-based lender announced a staff level agreement last year. A spokesperson for the IMF confirmed that the board is set to meet on Friday.
If approved by the board, the review would allow the disbursement of more than $250 million.
The latest review doesn’t mention an agreement in principle between the government and its official creditors on a debt rework, according to people familiar with the matter, who asked not to be named because the details aren’t public.
“Key milestones have been reached under the Common Framework process, and IMF staff assess that sufficient progress has been made to recommend approval of the review to the Board,” the IMF said in response to Bloomberg questions, without providing further details.
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