Tag: debt vulnerabilities

IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

International Monetary Fund and Ethiopian government have reached an opening agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program. The program would focus on addressing foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities. Zemedeneh Negatu, Global Chairman at Fairfax Africa Fund (US) joins CNBC Africa for more.