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Ethiopia: Breaking News | Baldras parade canceled | 17 people died tragically

The International Monetary Fund (IMF) has 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 issued after its staff visited the East African economic powerhouse, the global lender also lauded the resilience of the Ethiopian economy despite fall in global prices for key exports and what it said was a ‘re-emergence’ from drought. The IMF team headed by Julio Escolano visited Addis Ababa between September 13 to 26 this year. During their work, they met with relevant authorities within the financial sector among others National Bank of Ethiopia Governor Teklewold Atnafu and Minister of Finance and Economic Cooperation Abraham Tekeste. displayAdvert("mpu_3") In the short term, however, the current account deficit remains high, and indebtedness and associated risks have increased. “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. Improving economic statistics would support policymaking and investor confidence,“ leader of delegation said. Other high points the IMF delegation raised included growth in the country’s Gross Domestic Product (GDP), prudent budget execution and the narrowing of current account deficit and debt

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