Not the Right Time for a New Program: IMF

Nov 13 , 2021

During a press briefing held last week, representatives of the IMF stated that it would be difficult to kick off any new projects in Ethiopia given the heightened uncertainty in the country and its impact on the macroeconomy. The IMF's Director of Communication Gerry Rice, however, highlighted the Fund is ready to engage when the time is right and will continue to support authorities on an ongoing basis to provide policy advice and technical assistance. Ethiopia's extended credit facility and extended fund facility had expired in September, and government authorities had requested to begin negotiations on a new programme to replace them. "Like everyone else, we're watching the situation in Ethiopia with concern and continue to monitor that," said Rice.



A young shoe shiner goes door to door, offering his services around the Stadium area. It is common in the capital to see young rural migrants engaged in physical labour, scraping change to send home. CHR Michelsen Institute (CMI) estimates that one out of three rural households has at least one family member migrating to cities. Extreme poverty and lack of access to farmland force many to look for better prospects in the city. Upward income mobility has remained stagnant over the last five years...



A carriage around the Ayat area delivers water, as homes rarely access tap water in the area. Ethiopia has nine major rivers, and twelve big lakes, often called the water tower of Africa. However, UNICEF estimates that up to 80pc of communicable diseases in Ethiopia are due to a lack of access to safe water and sanitation. The second most populous country in Sub-Saharan Africa has the highest percentage of the population without access to potable water at 60pc, while the average daily consumptio...



Holiday activities at Jan Meda included penalty shoot outs for cash pay alongside other carnival games. The World Cup final in Qatar ended in penalty shoot outs this year, a global audience of 1.5 billion watched the spectacle. While the tournament's ending had stirred planetary awe, the death of 37 workers during the construction of the stadiums had given the games a sour taste early on. The tournament broke records of the biggest budget of more than 200 billion dollars and the most spectators...