End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a virtual visit to a country. The COVID-19 pandemic has created large health and social needs and had a significant negative impact on economic activity. The main economic impact of the pandemic is expected to fall on air transport, travel and tourism, and industrial production, due to social distancing measures and weaker external demand. In support of the authorities’ pandemic response, the IMF disbursed US $412 million of emergency financing in April through its Rapid Financing Instrument. “Consistent with their Homegrown Economic Reform Program, the authorities are implementing reforms to boost the role of the private sector in the economy.

Source: Ethiopian News August 21, 2020 15:00 UTC