ADDIS ABABA: Ethiopian Prime Minister Abiy Ahmed said on Thursday he was expecting about $10.5 billion in financial aid in the coming years once the country wraps up negotiations with international lending institutions.
Africa’s second most populous nation, battered in recent years by several armed conflicts, the Covid pandemic, and climate shocks, has been engaged in drawn-out talks seeking to secure a support programme from the International Monetary Fund (IMF).
There has been speculation that Ethiopia may have to devalue its currency, the birr, as a condition of IMF aid.
“We have been negotiating with the IMF and World Bank on a wide range of issues,” Abiy said in an address to parliament, adding that both Ethiopia and the IMF “are stubborn.” “Several of our proposals were finally accepted,” he said. “When this process comes to a successful conclusion, and the reform is approved, we will receive $10.5 billion in the coming years.”
American Dollar Exchange Rate