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Analysis by Region - Africa

Publisher Oxford Economics
Published Nov 04, 2024
Length 6 Pages
SKU # OFE19321975

Description

Analysis by Region - Africa



Ethiopia has made rapid progress on policy reforms over the past three months. Adopting a market-determined FX regime and loosening restrictions on the current account unlocked a four-year Extended Credit Facility (ECF) on July 29. Authorities accessed a second-tranche disbursal in October, bringing the cumulative disbursements under the front-loaded ECF to $1.3bn. The ECF disbursals and World Bank facilities alleviated some acute FX pressures. The ECF outlines that Ethiopia's external financing requirement will equally fall on the IMF, development partners, and debt treatment under the Common Framework (CF).

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6 Pages
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