IMF responds to financing arrangement

The International Monetary Fund (IMF) has indicated willingness to discuss the country’s  broad elements of the Economic Recovery Program, which seeks to restore macroeconomic stability, attain fiscal and debt sustainability, restore growth and safeguard social sector spending.

“Given the deep-rooted challenges faced, policies would need to be calibrated to restore sustainability while protecting the vulnerable and creating more inclusive growth.

“The authorities reiterated their intention of restoring the credibility of the budget, increasing debt transparency, strengthening public financial management, as well as improving governance and preserving financial stability,” said Abebe Aemro Selassie, Director of the IMF’s African Department.

Selassie said the IMF looks forward to the presentation of the government’s home-grown economic strategy, and will be assessing in the coming weeks how the IMF could support the authorities’ reform efforts through a possible Fund program.

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