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February 9, 2009

IMF Survey: IMF Lends Ethiopia $50 Million to Help Absorb Price Shocks  

The IMF approves a $50 million loan for Ethiopia to help its economy adjust to the steep increases in international prices of fuel, fertilizer, and cereals in 2008. The price increases weakened Ethiopia's international reserves position and contributed to inflationary pressure.

February 3, 2009

IMF Deputy Managing Director Kato Visits Ethiopia and Discusses Global Economic Challenges with the African Union  

Deputy Managing Director of the International Monetary Fund (IMF), Takatoshi Kato, attended the African Union (AU) Summit in Addis Ababa, Ethiopia, on February 1-3, 2009. Mr. Kato issued the following statement today at the conclusion of the Summit:

February 3, 2009

IMF to Assist Africa Hit Hard by Global Downturn  

Despite weaker financial linkages with the rest of the world than many other regions, Africa is likely to be hard hit by the global economic downturn, putting at risk the progress made across the continent in recent years, the IMF says.

September 8, 2006

Ethiopia: Scaling Up  

Ethiopia, among the poorest countries in Africa, presents one of the biggest development challenges in a region beset by frequent drought and food shortages and hobbled by inadequate roads and communications. A landlocked country of about 70 million people, sandwiched between Sudan and Somalia in the Horn of Africa, Ethiopia has suffered bloody upheavals and famine over the past two decades and is still recovering from a bitter border war with neighboring Eritrea.

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