April 23,2025
By: Getahun Tsegaye
Staff Reporter
Addis Ababa, Ethiopia – A high-level Ethiopian delegation led by Finance Minister Ahmed Shide held “productive discussions” with the International Monetary Fund (IMF) on the sidelines of the 2025 Spring Meetings of the IMF and the World Bank in Washington, D.C., which kicked off on Tuesday.
The delegation included key economic figures such as Mamo Mihretu, Governor of the National Bank of Ethiopia, Dr. Eyob Tekalign, State Minister of Finance, and Teklewold Atnafu, Senior Advisor to the Prime Minister. According to the Ethiopian Ministry of Finance, the delegation engaged in “high-level talks” with IMF Managing Director Kristalina Georgieva and other senior IMF officials to review Ethiopia’s reform progress and explore expanded support frameworks.
It was said that Georgieva “commended” Ethiopia for its “strong determination and great progress made in restoring macroeconomic stability,” praising achievements such as “a drop in inflation, strong fiscal discipline, and improved revenue mobilization.”
Ethiopia, once dubbed as “one of Africa’s fastest-growing economies”, has faced major macroeconomic challenges in recent years. Rising inflation, foreign currency shortages, high debt distress, and prolonged conflict in the north of the country have all taken a toll on the nation’s economy.
In response, the government rolled out what it called the “ Home Grown Economic Reform Program” in 2019, aimed at stabilizing the macro-economy, reforming state-owned enterprises, liberalizing key sectors, and attracting foreign direct investment. The program has since received technical and financial backing from the IMF and other development partners.
The recent IMF program review mission to Ethiopia noted significant strides in economic stabilization, but the country still faces deep structural issues—especially in terms of foreign debt management and trade imbalances. Ethiopia is also currently engaged in efforts to restructure its external debt under the G20 Common Framework, an initiative aimed at helping heavily indebted nations manage unsustainable debt burdens.
Finance Minister Ahmed Shide emphasized the importance of this partnership, stating that IMF support “has been instrumental in advancing the country’s reform agenda aimed at unlocking the country’s full economic potential by strengthening and modernizing the economy.”
During the meeting, both parties agreed on the need to accelerate reforms aimed at improving the business environment, fostering private sector growth, and attracting foreign investment—seen as critical drivers of Ethiopia’s long-term development strategy.
“We are committed to working closely with the IMF and other development partners to continue this reform journey,” Ahmed noted.
Georgieva, in turn, reaffirmed the IMF’s “strong commitment” to Ethiopia’s “Home Grown Economic Reform Program”, indicating that the Fund will continue its engagement in both technical assistance and financing as needed.
The discussions concluded with both sides pledging “continued collaboration” to support Ethiopia’s growth and resilience in the face of both domestic challenges and broader global economic headwinds.
Edited by Dimetros Birku
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