IMF Urges Creditor Committee for Quick Decisions

Jul 17 , 2022

The International Monetary Fund (IMF) has called on the creditor committee for Ethiopia to hasten negotiations with federal authorities and reach an agreement for the debt restructuring process under the G-20 Common Framework. IMF representatives said the Fund's representatives and the country's creditor committee, chaired by France and China, are due for a sitdown in the coming week. Ethiopia is one of the three African countries that have applied for debt restructuring under the G-20 common framework in February 2020. The process has been moving slowly, frustrating IMF officials. Ethiopia owes external creditors close to 30 billion dollars, nearly half of which goes to China. Chad and Zambia are the other two African countries that have applied for debt rework under the framework.



A painting depicts traditional farming equipment at the Science Museum around the Arat Kilo area. Since the seizing of power by the current administration, large-scale architectural projects marked by grandeur have proliferated across the capital. The satellite city being built in the Yeka mountains, which is set to cost around 600 billion Br, according to the Prime Minister, is one such project yet to see the light of day. Some estimates put the plot size for the project at around 503hct despit...



A queue for diagnostics at the nation's largest state-owned hospital, Black Lion. As the health sector is largely funded by development partners from abroad, decreased support as donors shied away due to the war in the North has required the suspension of several new projects. Social health Insurance slated for next year was scraped due to a budgetary shortfall of five billion Birr. With the physician-to-patient ratio titering at around 1:30,000, queues in public hospitals are commonplace in Eth...



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