Source: Xinhua| 2019-12-25 01:03:41|Editor: Mu XuequanVideo Player CloseADDIS ABABA, Dec. 24 (Xinhua) -- The International Monetary Fund (IMF) on Tuesday expressed its support to Ethiopia's ongoing economic reform initiative that aimed to eliminate macroeconomic imbalances and lay the foundation for sustainable and inclusive growth. "The authorities have developed their very own ambitious Homegrown Economic Reform Plan tailored to the country's needs and preferences. They have engaged in wide-ranging outreach to discuss the economy's future with key stakeholders and have taken important initial steps to implement reforms," the IMF said in its review of Ethiopia's economic reform agenda issued on Tuesday. The IMF, however, stressed that financial sector development needs to be accompanied by stronger supervision and financial safety nets to ensure that the financial sector remains stable. Last week, the Ethiopian government had disclosed that the World Bank and IMF have pledged to extend more than 5 billion U.S. dollars over the coming three years to support Ethiopia's ongoing economic reform.

Source: Ethiopian News December 24, 2019 17:03 UTC