7 KG gold, including US $ 1.5 million and several foreign money funds


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USD 1.5 and more from foreign nations arrested for excluding 7 kilograms of gold

Ethiopia has entered a $1.3 billion deal with the World Bank to improve governance and fund pro-poor policies in regions worst hit by a drought and food shortages. The global lender on Friday (September 29) announced that it had signed the loan and grant agreement. Breakdown of $1.3bn facility Of the total amount, $700 million would be used to “improve equitable access to basic services and strengthen accountability” in education, health, agriculture and other sectors. displayAdvert("mpu_3") The current positive investor sentiment towards Ethiopia could be enhanced by reforms to improve the business climate. A more flexible exchange rate would help competitiveness. The remaining $600 million was a grant to finance the East African country’s “Rural Productive Safety Net” scheme, which is handing out cash or food to 8 million people in exchange for participation in public development projects, a statement added. IMF praise but caution for Ethiopia The latest development comes on the heels of International Monetary Fund (IMF) praise and caution for Addis Ababa, after a team visited the country between September 13 and 26. The IMF in a statement praised Ethiopia’s economic strides for the year 2016/2017 but has also urged that reforms be undertaken to improve the business climate. In a release

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