Ethiopia, IMF discuss ongoing economic reforms and future cooperation

Addis Ababa, October 22, 2024 (FBC) – A high-level Ethiopian delegation, led by Mr. Ahmed Shide, Minister of Finance, and comprised of Mamo Mihretu, Governor of the National Bank of Ethiopia, Teklewold Atnafu, Senior Advisor to the Prime Minister, Eyob Tekalign, Finance State Minister, and other officials, held meetings with Kristalina Georgieva, IMF’s Managing Director, and the high-level management of Africa Department of the IMF to discuss ongoing economic reforms and future cooperation.

During the discussions, Mr. Ahmed Shide expressed Ethiopia’s deep appreciation for the IMF’s continued support, which has been instrumental in advancing the country’s reform agenda.

The Minister highlighted the high-level political leadership of the Prime Minister in spearheading the pro-poor macroeconomic reform, ensuring a whole-government approach for the reform and the strong outreach and engagement of stakeholders to lay the groundwork for the successful implementation of the comprehensive reform aimed at strengthening and modernizing the economy and promoting inclusive growth.

On her part, Kristalina Georgieva commended Prime Minister Abiy Ahmed’s leadership for the homegrown economic reform agenda and achievements to date, including strong growth and the strides made in addressing macroeconomic imbalances and opening up the economy.

T IMF chief underscored that Ethiopia’s bold reforms will serve as a model for other countries and economies to pursue.

She also reaffirmed the IMF’s continued commitment to supporting Ethiopia’s ongoing transformation efforts, including addressing the cost of the adjustments, emphasizing the institution’s recognition of the tangible progress made by the Ethiopian government.

The meeting concluded with both sides pledging to further strengthen collaboration in areas critical to Ethiopia’s long-term development and growth, according to the Ethiopian Embassy in Washington, D.C.