Find similar content

News: #IMF approves $261 million disbursement to #Ethiopia, cites stronger macroeconomic performance The International Monetary Fund (IMF) has approved the immediate release of US$261 million to Ethiopia under its Extended Credit Facility (#ECF), following the completion of the fourth review of the country’s reform program. The decision, the Fund said, reflects “stronger-than-anticipated macroeconomic outcomes and overall performance broadly in line with program commitments.” In a statement issued on 16 January 2026, the IMF said the Executive Board’s decision under the 48-month ECF arrangement will support Ethiopia’s balance of payments and fiscal financing needs. The disbursement brings total funding released under the program to approximately US$2.183 billion (SDR 1.6 billion). To strengthen the foreign exchange market, the IMF introduced a new performance criterion setting a zero limit on foreign exchange intervention outside of auctions. Read more: https://addisstandard.com/?p=54630

#Ethiopia: National Bank to phase out #gold premium, open purchases to private banks; #IMF warns exchange rate challenges hinder private investment The National Bank of Ethiopia (#NBE) is overhauling its gold transaction procedures to reduce risks to its balance sheet and curb distortions in the banking sector, according to the International Monetary Fund’s (IMF) latest review of Ethiopia’s Extended Credit Facility (#ECF) program. Under the new framework, the premium above international gold prices currently paid to miners will be phased out, while private banks will be allowed to participate in gold purchases. The NBE plans to develop a detailed implementation roadmap based on a study expected by the end of March 2026. In the meantime, quality control will be strengthened through expanded and improved gold testing at all purchasing sites. The central bank also intends to prepare a long-term exit plan from the gold market by the end of December 2026,... Read more: https://addisstandard.com/?p=54903