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HomeNewsIMF pause talks with Ethiopian Authorities, to continue late April

IMF pause talks with Ethiopian Authorities, to continue late April

The two weeks long conversation is said to have demonstrated “substantial progress”

IMF Ethiopia - reform funding
Governor of National Bank of Ethiopia, Mamo Mihretu, greets Kristalina Georgieva, IMF director. (Photo : File/from the web)

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Toronto – The International Monetary Fund (IMF) which was holding talks with Ethiopian Authorities on Tuesday announced that it has concluded its working visit to Ethiopia. 

An “End-of-Mission” press release from the IMF Communications department indicated that a report will be prepared based on “preliminary findings” of the IMF mission. If the IMF management approves it, the report will be presented to the executive board for “discussion and decision” – according to the press release. 

The “Preliminary findings” are not highlighted in the press release. 

The IMF team that Mr. Alvaro Piris led to Ethiopia spent nearly two weeks in Ethiopia. Ethiopian authorities’ funding request to finance a “reform program” was discussed during the series of meetings they held with the IMF team. 

The team leader is quoted as saying, “Building on earlier discussions, the staff team made substantial progress towards establishing how the IMF could support the authorities’ economic program. Discussions will continue at the IMF/World Bank Spring Meetings later this month. We thank the authorities for their warm hospitality and the productive discussions.”

There had been an ongoing discussion between Abiy Ahmed’s government and the IMF in the country and abroad. While claiming to have a “homegrown economic plan,” Abiy Ahmed’s administration has been implementing core neoliberal economic policies. In addition to privatizing the Telecom sector in the country. His government has passed a decision to open up the banking sector to foreign investors. 

Recently, Abiy Ahmed announced that foreigners will be allowed to own land and residential property in Ethiopia. 

Economic activity in much of the Amhara region – which is believed to be home to one-third of Ethiopia’s 120 million population – is reportedly halted due to Abiy Ahmed’s government military operation. The operation was initially intended, as stated by the federal government, within two weeks. However, it has been over eight months now and there does not seem to be an end in sight to it. 

Ethiopian Organizations operating outside of the country recently released a statement asking the IMF not to fund Abiy Ahmed’s government in light of the ongoing war in the country and egregious human rights violations.   

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4 COMMENTS

  1. Reuters Africa has just reported this:
    reuters.com/world/africa/ethiopia-creditors-give-until-end-june-imf-deal-source-2024-04-03/

  2. Sir or Madame Alem told “”ቁም ነገር አገኝበት ብዬ ክፍል 1 እና ክፍል 2ን አንኳኳሁ። “እንደ ዮናስ ኢትዮጵያ ኦርስቶዶክስም የራሱዋን መርከብ ተሳፍራ ስትሸሽሽ ፈጣሪ ነፋሱን እያስነሳ ከእንቅልፏ ይቀስቅሳታል፣ ወደ መንገድ ይመልሳታል” የሚል ተረት ተረት አገኘሁበት። እርግጥ ነው፣ የዐቢዮች ብልጽግና ከንቱ ልፈፋ ነው፤ ያንተ ደግሞ ጭራሽ ባሰ። እውር እውርን ቢመራ ሁለቱም ተያይዘው ከገደል ነው።”” The Author wrote(ክፍል ሁለት: የሁለት ሺ አመት ዋና ዋና ፈተናዎች by ሰይፈ ስላሴ) : እንደ ዮናስ ኢትዮጵያ ኦርስቶዶክስም የራሱዋን መርከብ ተሳፍራ ስትሸሽሽ ፈጣሪ ነፋሱን እያስነሳ ከእንቅልፏ ይቀስቅሳታል፣ ወደ መንገድ ይመልሳታል። አንዳንዴም ወደ ባህር ይጥላትና በአሳ ነባሪ ያስውጣታል። ከዛ ከአሳ ነባሪ ሆድ ወጥታ የእግዚአብሔርን ቃል እንድትመሰክር ያደርጋታል።
    Warmest greetings, Sir or Madam Alem. A great deal of your comments appear to be flawless, showcasing your immense analytical proficiency and wisdom. Nonetheless, you committed extremely embarrassing errors at this point—to err is human. You should ask the author what he meant to say in regard to any biblical commentary or method of examining and clarifying religious concepts if it is not your cup of tea or if doesnot happen to be your strong suit.

  3. When I see that over qualified countryman Obbo Mamo bin Mihretu leading the talks, It gives me comfort that the old country is in good hands in this negotiation. He is said to be a professional in finance respected by institutions like IMF and The World Bank. Right on brother, right on!!!

  4. Ethiopia state lead by maniac Abity is in its worest financial wreckage in history. It reached a point of no return.. Financial vulture entities like the IMF can dictate, impoe and do whatever they wish and how they wish at this point.

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