The Federal Democratic Republic of Ethiopia: Fourth Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Di

Fourth Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

The Federal Democratic Republic of Ethiopia: Fourth Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report

Volume/Issue: Volume 2026 Issue 020

Publication date:

ISBN: 9798229035569

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Exports and Imports , Finance , Money and Monetary Policy , Public Finance , Currency markets , Credit , Exchange rates

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Summary

In July 2024, the Board approved a four-year arrangement under the Extended Credit Facility to support the Ethiopian authorities’ Homegrown Economic Reform agenda (HGER), which aims to correct macroeconomic imbalances, restore external debt sustainability, and lay the foundations for high, private sector-led growth. Progress under the HGER agenda continues, with better-than-anticipated macroeconomic outcomes. The authorities continue to take steps to enhance the foreign exchange (FX) market, modernize the monetary policy framework, mobilize fiscal revenue, and advance the financial regulatory agenda. Maintaining reform momentum is essential to consolidate gains and support growth and poverty reduction in the medium term.