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TheEastAfrican.co.ke: IMF ends Ethiopia visit without a deal

Posted by: Berhane Habtemariam

Date: Wednesday, 03 April 2024

 

 

 
imf pic

The International Monetary Fund logo. PHOTO | REUTERS

By REUTERS
Wednesday April 03 2024

The International Monetary Fund (IMF) concluded its visit to Ethiopia to discuss a request for the global lender's support on Tuesday without reaching an agreement, leaving the country short of a commitment it made with its official international creditors.

"The team made substantial progress towards establishing how the IMF could support the authorities' economic programme," and discussions will continue later this month in Washington, the IMF said.

But the Paris Club of developed creditor nations, which does not include China, said last year that an agreement to suspend Ethiopia's debt payments through 2025 could be voided if the country did not secure an IMF loan by March 31.

It was not clear whether Paris Club members would enforce that deadline. Ethiopia reached a separate debt-service suspension deal with China earlier in 2023.

Ethiopia has been without an IMF programme since its last lending arrangement with the fund expired in late 2022.


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