New Business Ethiopia

The International Monetary Fund (IMF) Executive Board approves US$411 million in emergency assistance to Ethiopia to address the COVID-19 pandemic.

With the aim of helping the poorest countries fight against the spread of COVID-19, the International Monetary Fund (IMF) approved relief on debt service for 25 member countries including 19 in Africa.

As the leaders of the wealthiest nations begins their extraordinary summit this week, the Government of Ethiopia today appeals to the G20 to rescue African economies, which began feeling the catastrophic impacts of COVID-19 pandemic to the continent.

Supporting Ethiopia’s home–grown economic reform, the International Monetary Fund (IMF) has agreed with Ethiopian government at technical level to provide the latter 700% more than its quota.

Intellectuals and business leaders gathered in Addis Ababa this morning debate about the benefits of Ethiopia’s “urgency” to privatize the state owned mega enterprises such as Ethio Telecom and Ethiopia Airlines among others.

As part of investment incentive, the Ethiopian Ministry of Revenue has provided duty free import privilege of 65 billion birr (around $2.4 billion at the prevailing exchange rate) in the past six months.

Last month the International Monetary Fund (IMF) has reflected its opinion on the past, current and future of Ethiopian economy.

The Executive Board of the International Monetary Fund (IMF) approved a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for about $ 2.97 billion, or 240 percent of Morocco’s quota.