ADDIS ABABA (Reuters) - The International Monetary Fund (IMF) will give Ethiopia $62.7 million from its Exogenous Shock Facility, the final tranche of a $240.2 million package.
The lender said in a statement late on Monday that Ethiopia had successfully implemented good macroeconomic policies, such as bringing soaring inflation down and building international reserves to about 2.1 months of import cover.
"Inflation has continued to decline, reflecting monetary restraint and aided by favorable weather conditions," the IMF said in the statement on its website.
"The mild impact of the global recession on the Ethiopian economy has allowed for better performance on the external targets."Read More
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