The Federal Democratic Republic of Ethiopia : Requests for Purchasing under the Rapid Financing Instrument, Debt Relief under the Catastrophe Containment and Relief Trust, Rephasing of Access Under the Three-Year Arrangements under the Extended Credit…
Author/Editor:
International Monetary Fund. African Dept.
Publication Date:
May 6, 2020
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
Ethiopia is facing a pronounced economic slowdown and an urgent balance of payments need owing to the COVID-19 pandemic. The economy was growing robustly prior to the pandemic, and progress under the ECF-EFF arrangements was encouraging. The shock is expected to significantly reduce growth this fiscal year and next. It has already materially weakened external accounts as services exports, remittances, and foreign direct investment declined. The authorities are taking measures to combat the spread of the virus, mitigate its fallout, and support vulnerable groups. The fiscal deficit will have to expand temporarily to accommodate the additional spending.
Series:
Country Report No. 20/150
Subject:
English
Publication Date:
May 6, 2020
ISBN/ISSN:
9781513542935/1934-7685
Stock No:
1ETHEA2020002
Format:
Paper
Pages:
48
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