No Deal with IMF Over Bailout Package

Apr 3 , 2024

Ethiopian authorities have failed to reach an agreement with a team of the International Monetary Fund (IMF) staff, after talks in Addis Abeba were concluded yesterday.

Led by Alvaro Piris, the team returned to Washington D.C., after 10 days of negotiations, hoping to continue discussions during IMF-World Bank spring meeting next month.

A statement the team issued yesterday stated that "significant progress" was achieved during the talks over the past two weeks. However, issues such as liberalising the foreign exchange market, consolidation of budget, speed of the reforms to be implemented, and phases of loan disbursement remain sticky issues, according to people familiar with the discussions.

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