IMF hints sending program negotiation team to Ethiopia come fall “provided conditions are rightâ€
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Loading... - Patrick Okine
- 12 Aug 2022
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The International Monitory Fund (IMF) has briefed creditor’s committee meeting under the G20 common framework and hinted at sending “program negotiation mission” to Ethiopia between “late September to early/mid October” this year, “provided conditions are right,” according to a document seen by Addis Standard.
“This will mean Ethiopia will see a new program by 2024, and that will give confidence to creditors to restructure [Ethiopia’s] debt,” an economic analyst who is closely following the development told Addis Standard.
A team from the IMF, led by Sonali Jain-Chandra, was in Ethiopia for a technical staff visit. The Fund told creditors on Tuesday that the visit laid “the groundwork for starting program negotiations in the fall.”
Ethiopia’s creditors’ committee met to discuss on the possibilities of restructuring its debts under a common framework set up by the Group of 20 economies. But the results of the meeting are not public as of the publishing of this news. A week before the meeting of creditors, Dr Eyob Tekalign, Ethiopia’s State Minister of Finance, met with William Roos, the Co-Chairperson of the Paris Club, and received an update on Ethiopia’s request for debt treatment under the G20 Common Framework. Read More...
