IMF managing director to visit Ethiopia

-Finance minister meets with WBG delegation

ADDIS ABABA – The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, will visit Ethiopia on February 8th and 9th, 2025, the Ministry of Finance announced.

This marks Kristalina’s first visit to the country since her appointment in 2019.

During her two-day trip, Kristalina will meet with Prime Minister Abiy Ahmed(PhD) and other high-ranking government officials to discuss Ethiopia’s economic outlook, policy priorities, and ongoing reforms.

She will also engage with private sector representatives to exchange views on the business environment and opportunities in Ethiopia. The visit will include site visits to social and development projects. The Ministry of Finance stated that the visit underscores the IMF’s commitment to supporting Ethiopia’s economic development and promoting dialogue on policies that foster resilience and sustainable prosperity.

Concurrently, Finance Minister Ahmed Shide met with a high-level World Bank Group (WBG) delegation, including Anna Bjerde, Managing Director for Operations, and Victoria Kwakwa, Regional Vice President for Eastern and Southern Africa, to discuss development cooperation.

Minister Ahmed commended the World Bank for the successful Mission 300 Energy Summit held in Tanzania. This initiative, supported by the WBG and other partners, aims to halve the number of people without electricity access in Africa by 2030, with a focus on leveraging Ethiopia’s renewable energy potential.

Ahmed expressed gratitude for the World Bank’s substantial financial and technical support, which currently totals over 17 billion USD in investments across various sectors in Ethiopia. He provided an update on Ethiopia’s macroeconomic reforms, including ongoing tax and financial sector reforms designed to create a more attractive investment climate, and reiterated the government’s dedication to these reforms.

He also congratulated the WBG and its donors on the successful IDA21 Replenishment.

Anna praised Ethiopia’s progress on macroeconomic and financial sector reforms and reaffirmed the World Bank’s continued support for these efforts. She emphasized the importance of deepening reforms to address the needs of the private sector. Both sides affirmed their commitment to strong and continued collaboration and partnership.

BY ESSEYE MENGISTE

THE ETHIOPIAN HERALD FRIDAY 31 JANUARY 2025

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