Executive Board of the International Monetary Fund (IMF) has approved the third review of Ethiopia’s $3.4 billion loan programme, unlocking $262.3 million in funding to support the East African nation’s economic recovery.
This development comes as Ethiopia finalizes a Memorandum of Understanding with its Official Creditor Committee — co-chaired by France and China — to restructure $8.4 billion in debt and secure $2.5 billion in debt service relief through 2028. The agreement falls under the G20 Common Framework for debt treatment.
Despite defaulting on its debt in December 2023, Ethiopia has shown signs of economic resilience, with the IMF noting progress in economic growth and inflation reduction.
IMF Approves Third Review of Ethiopia’s $3.4bn Loan, Releases $262.3m for Economic Recovery
