Ethiopia faces tough devaluation decision to secure IMF bailout

World News
12-04-2024 | 05:21
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
print
Ethiopia faces tough devaluation decision to secure IMF bailout
Whatsapp
facebook
Twitter
Messenger
telegram
print
0min
Ethiopia faces tough devaluation decision to secure IMF bailout

Ethiopia may have to decide on big currency devaluation sooner rather than later to secure a rescue loan from the International Monetary Fund (IMF), which left the country last week without reaching a much-needed deal with authorities.

East Africa's most populous country, already struggling with high inflation, became the third African state in as many years to default on its debt in December.

Ethiopia hasn't received any IMF funds since 2020 and its last lending arrangement with the fund went off track in 2021. The federal government and a rebellious regional authority signed a deal in late 2022 to end a two-year civil war.

The IMF, which said progress was made during its latest visit, has not said that currency reform is necessary for its support. But the Fund usually favors flexible, market-determined exchange rates. Ethiopia has requested $3.5 billion of support from the IMF, sources told Reuters last year.



Reuters

World News

Ethiopia

Devaluation

Decision

IMF

LBCI Next
Afghanistan earthquake death toll rises to 622
Recommended For You
d-none hideMe
LBCI
World News
09:26

China state oil majors suspend Russian oil buys due to sanctions: Reuters

LBCI
World News
07:42

UK police arrest three on suspicion of Russia-related spying

LBCI
World News
06:48

King Charles and Pope Leo pray together in a 500-year first

LBCI
World News
06:45

Ukraine says Russia returned 1,000 bodies

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Lebanon News
06:02

Intense Israeli strikes target Lebanon's eastern and western Bekaa regions

LBCI
News Bulletin Reports
2025-10-19

Quality reassurance: Tannourine resumes production after Health Ministry approval

LBCI
Lebanon News
07:36

Israeli strikes hit near Baalbek schools; education minister vows safety and continuity

LBCI
World News
2025-09-18

Trade union says over a million protest in France against austerity

Videos
d-none hideMe
LBCI
Lebanon News
2025-10-04

Meet Miss Lebanon 2025 contestants: Video

LBCI
Lebanon News
2025-10-03

Series of Israeli airstrikes spark massive fire in southern Lebanon

LBCI
Lebanon News
2025-09-07

Lunar eclipse captivates Lebanon: watch the stunning video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
News Bulletin Reports
12:45

Israel gears for confrontation with Hezbollah, challenges US Gaza strategy

LBCI
News Bulletin Reports
13:11

Where are Lebanon’s missing? Families search for answers as Israel holds at least 20 captives

LBCI
News Bulletin Reports
13:10

From shootout to arrest: Armed drug dealer in Lebanon caught after 'daring' escape

LBCI
Lebanon News
06:27

Israeli army says struck 'Hezbollah sites' in Bekaa and northern Lebanon

LBCI
Lebanon News
10:55

US envoy Tom Barrack marks anniversary of 1983 Marine compound attack in Beirut, says America “must not repeat past mistakes”

LBCI
Lebanon News
10:21

Joanna Kassem wins 2026 MG ZS in Toters Fresh draw on LBCI

LBCI
Lebanon News
06:02

Intense Israeli strikes target Lebanon's eastern and western Bekaa regions

LBCI
World News
09:46

US missionary abducted in Niger capital: Diplomatic sources

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More