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The International Monetary Fund (IMF) is expected to convene this summer to consider the third review of Ethiopia’s USD3.4 billion support program, according to a spokesperson cited by Reuters. The review remains on track with the original schedule, signaling continued confidence in Ethiopia’s reform trajectory despite recent delays in securing a staff-level agreement.

An IMF delegation visited Addis Ababa in mid-April for routine assessments. At the time, Ethiopian authorities anticipated a swift announcement of a staff-level agreement. However, no official update has since been issued, leaving observers awaiting clarity as the Executive Board meeting nears.

If approved in June, the review will unlock a 191.70 million Special Drawing Rights (SDR) tranche—equivalent to about USD265 million—to support the country’s sweeping macroeconomic reform agenda. The disbursement would represent a crucial injection of liquidity as Ethiopia navigates fiscal consolidation, foreign exchange liberalization, and structural adjustments.

The IMF program, agreed upon last July, was a key requirement for Ethiopia’s participation in the G20’s Common Framework for debt restructuring. Since then, the government has secured a preliminary deal with official creditors and is preparing to engage with private bondholders in the coming weeks and months.

 



 

 

In a powerful statement made on March 7, 2025, during a press briefing on the sidelines of China’s National People’s Congress, Chinese Foreign Minister Wang Yi urged the global community to listen to Africa, understand its concerns, and support its pursuit of a new, self-chosen path to development. Wang’s remarks come at a time when Africa is increasingly asserting its right to shape its own future, free from foreign-imposed models that have long failed to deliver prosperity.

“Imposed foreign models have failed to bring lasting prosperity to Africa,” said Wang. “It’s time the world recognizes Africa’s right to choose its own development course.” This message resonates strongly with Ethiopia, a key African partner in China’s global strategy. Ethiopia, with its ambitious economic reforms and transformative projects, embodies the very spirit of self-strengthening that Wang called for.

China’s relationship with Ethiopia has flourished over the years, with extensive cooperation in infrastructure development, trade, and investment. The construction of the Addis Ababa-Djibouti Railway and the expansion of industrial zones are just some of the milestones in this growing partnership.

Wang Yi’s comments also highlighted the upcoming in-person Forum on China-Africa Cooperation (FOCAC) summit, scheduled for autumn 2025. This year marks the 25th anniversary of the FOCAC. Over the past quarter-century, China’s collaboration with Africa has resulted in tangible, far-reaching outcomes. Nearly 100,000 kilometers of roads and more than 10,000 kilometers of railways have been built and upgraded across the continent. In the last three years alone, Chinese enterprises have created over 1.1 million jobs in Africa, reinforcing China’s position as Africa’s largest trading partner for 16 consecutive years.

“The benefits of China-Africa cooperation are visible and tangible to our African brothers and sisters,” Wang remarked. He further highlighted that Africa represents “a fertile land of hope” for the 21st century. “There will be no global modernization without African modernization,” he declared.

Wang also pointed out that this year’s G20 Summit will be held on the African continent for the first time, further acknowledging the rising significance of Africa in global governance. China, he emphasized, firmly supports South Africa in fulfilling its role as the G20 chair and ensuring a distinct African imprint on global decision-making.

 




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