Fana: At a Speed of Life!

IMF praises Ethiopia’s remarkable progress over more than a decade

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Addis Ababa, December 5, 2018 (FBC) – The International Monetary Fund (IMF) has praised Ethiopia’s remarkable progress over more than a decade.

Ethiopia has built on its strong track record of development over more than a decade. Growth slowed in 2017/18, but remained high while the current account deficit continued to narrow, the IMF says in its recent report on the economic health of Ethiopia.

The sub-Saharan country is embarking on its next phase of economic and social development-supported by reforms and powered by the private sector.

Over the last decade, high growth has led to a significant reduction in poverty and improved living standards for many Ethiopians.

The country’s large infrastructure investments are beginning to bear fruit and the provision of public services such as education and health has increased dramatically.

As a result, the population has enjoyed important welfare gains.

The number of maternal deaths per 100,000 live births fell radically from 1,080 in 1995 to 353 in 2015 and the proportion of people living in poverty fell from over 45 percent in 1995 to around 23 percent in 2015.

To read the full text of the report, click here