IMF chief commends Ethiopia’s reform progress, pledges stronger support for economic transformation

Addis Ababa, October 23, 2025 (FMC) — Ethiopia and the International Monetary Fund (IMF) have reaffirmed their strong partnership and commitment to advancing Ethiopia’s ongoing economic reforms and debt sustainability efforts during a high-level meeting between Ethiopian officials and IMF Managing Director Kristalina Georgieva.

The Ethiopian delegation, led by Minister of Finance Ahmed Shide, included National Bank of Ethiopia Governor Eyob Tekalign, Ethiopia’s Ambassador to the United States Ambassador Binalf Andualem, Senior Advisor to the Prime Minister Teklewold Atnafu, and other senior officials.

The meeting was also attended by senior management from the IMF’s Africa Department.

Minister Ahmed expressed appreciation for the IMF’s continued support to Ethiopia, underscoring the government’s determination to strengthen fiscal management, enhance domestic resource mobilization, and accelerate key structural reforms.

“Ethiopia highly values its long-standing partnership with the IMF,” Minister Ahmed stated. “We are implementing bold reforms aimed at achieving macroeconomic stability, job creation, and improved livelihoods for our citizens. The IMF’s technical and financial support continues to be instrumental in advancing these objectives.”

He briefed the Managing Director on Ethiopia’s positive economic outlook and the government’s expanded social spending within the framework of ongoing reform and social protection measures.

Highlighting progress and success under the reform program, Minister Ahmed cited several key factors driving Ethiopia’s achievements: strong government ownership and commitment; an inclusive, whole-of-government approach to decision-making; careful sequencing of reform measures; and protection mechanisms for vulnerable populations. He also noted the importance of strong and sustained support from development partners, notably the IMF, the World Bank, and the Official Creditors Committee.

The Minister further underscored Ethiopia’s interest in accessing the Resilience and Sustainability Facility (RSF) to advance the country’s climate agenda, emphasizing Ethiopia’s exemplary progress in climate resilience and green growth initiatives.

Governor Eyob Tekalign provided updates on the ongoing debt treatment discussions with bilateral and commercial creditors, noting the encouraging progress made and highlighting the importance of continued IMF support to ensure the process remains on track.

Ms. Georgieva commended the Ethiopian authorities for their robust implementation of the IMF-supported reform program, recognizing notable achievements such as sustained economic growth, declining inflation, and continued progress in opening up the economy. She encouraged the government to maintain reform momentum and deepen private sector participation to unlock Ethiopia’s full economic potential.

The IMF Managing Director reaffirmed the Fund’s commitment to supporting Ethiopia’s economic transformation and debt sustainability efforts in close collaboration with key development partners.

Both sides concluded the meeting by pledging to strengthen cooperation and jointly assess progress and opportunities for enhancement during the forthcoming Fourth Program Review, scheduled to commence at the end of October.