The International Monetary Fund (IMF) has announced that its Executive Board is on course to assess the third review of Ethiopia’s $3.4 billion economic reform programme within the scheduled timeline, potentially unlocking a key disbursement for the East African nation.
In a statement to Reuters, IMF spokesperson Julie Kozack said, “We anticipate that the IMF Executive Board will consider the third review this summer, consistent with the original review schedule.” The statement did not confirm the status of a staff-level agreement, which Ethiopia’s government had earlier expected “within days” following an IMF staff visit in April.
If approved, the June board meeting will release a 191.70 million Special Drawing Rights (approximately $265 million) loan tranche to Ethiopia, providing critical support for its ambitious macroeconomic reform programme. These reforms are central to Ethiopia’s broader financial recovery efforts and were key conditions for securing the IMF deal in July 2024.
The programme’s progress is also tied to Ethiopia’s participation in the G20’s Common Framework for debt restructuring. Approval of the review would mark a vital step in restoring financial stability and unlocking further international support amid ongoing economic challenges.