IMF disburses $340 million to Ethiopia
Fund commends country’s progress on monetary policy and exchange rate reform
The International Monetary Fund (IMF) on October 18 disbursed $340 million from its four-year $3.4 billion loan to Ethiopia.
The transfer brought total disbursements from the funding package to $1.36 billion. The IMF agreed the package in July, after Ethiopia adopted an interest rate-based system of monetary policy and floated its currency.
The IMF said Ethiopia’s progress in reforming its monetary policy had been encouraging and that the spread between the official and parallel exchange rates had
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