(Reuters) - The International Monetary Fund concluded its visit to Ethiopia to discuss a request for IMF support on Tuesday without reaching an agreement, leaving the East African nation short of a commitment it made with its official international creditors.
"The team made substantial progress towards establishing how the IMF could support the authorities' economic program," and discussions will continue later this month in Washington, the IMF said.
But the Paris Club of developed creditor nations, which does not include China, said last year that an agreement to suspend Ethiopia's debt payments through 2025 could be voided if the country did not secure an IMF loan by March 31.
It was not clear whether Paris Club members would enforce that deadline. Ethiopia reached a separate debt-service suspension deal with China earlier in 2023.
Ethiopia has been without an IMF program since its last lending arrangement with the fund expired in late 2022.
-
Revelations
- Senior Member+
- Posts: 34573
- Joined: 06 Jan 2007, 15:44
Re: IMF ends Ethiopia visit, deal not yet secured
The IMF is insisting on loan conditions which have proven to be challenging for the Ethiopian government.
For one, they are demanding the unconditional withdrawal of Amhara forces from Welkait and restore the territories to Tigray. Their aim is to use Welkait as a weapons trafficking corridor along the Sudan-Ethiopia border, where illicit weapons can easily flow into Tigray to keep the country in perpetual cycle of conflict and turmoil, because military spending is known to increase external debt.
For instance, the two years of mercenary war the Tigray terrorist group waged on Ethiopia has added another $28 Billion dollars to the external debt of the country. The IMF is a war profiteer.
For one, they are demanding the unconditional withdrawal of Amhara forces from Welkait and restore the territories to Tigray. Their aim is to use Welkait as a weapons trafficking corridor along the Sudan-Ethiopia border, where illicit weapons can easily flow into Tigray to keep the country in perpetual cycle of conflict and turmoil, because military spending is known to increase external debt.
For instance, the two years of mercenary war the Tigray terrorist group waged on Ethiopia has added another $28 Billion dollars to the external debt of the country. The IMF is a war profiteer.