The Fund forecasts 6.2 percent 2024 growth rate for Ethiopian economy
The International Monetary Fund fears the security situation in Ethiopia still risks backpedaling, despite the peace agreement that ended the northern Ethiopia war a year and a half ago.
"Moreover, the intensifying conflict in Sudan could further harm the economy and humanitarian conditions in nearby countries," it reads. The Fund foresees inflation rates in Ethiopia to drop to 18.2 percent in 2025, almost 10 percentage points lower than the 26 percent currently reported by the government statistics bureau. Ethiopia's current account deficit, which sits at 2.9 percent, is expected to drop to 1.7 percent in 2025, according to the report.
Abebe Aemro Selassie, director of the IMF Africa Department, skipped over questions regarding Ethiopia during a press briefing on Friday. Abebe, an Ethiopian citizen, often leaves queries regarding Ethiopia unanswered during press briefings.There was a problem processing your submission. Please try again later.
"Building on earlier discussions, the staff team made substantial progress towards establishing how the IMF could support the authorities' economic program. Discussions will continue at the IMF/World Bank Spring Meetings later this month ," reads an IMF statement issued following the visit.
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