Borkena
Toronto – Kristalina Georgieva, The Managing Director of the International Monetary Fund (IMF), has reportedly arrived in the Ethiopian capital Addis Ababa for a two days working visit. Her planned visit was announced over a week or so ago.
The Ministry of Finance has announced that she will be meeting with Abiy Ahmed and other senior government officials.
She is in the country as part of the ongoing IMF evaluation of the reform measure Abiy Ahmed’s government introduced in July 2024 including a market based currency exchange regime.
She, along with the delegates she led, are also scheduled to visit social projects and hold a meeting with the private sector representatives in the country, according to the Ministry of Finance. It is unclear how the representatives were elected.
Last month the IMF executive board decided to release $US 248 million to Ethiopia after evaluating the implementation of the reform measures.
Economists criticize Prime Minister Abiy Ahmed’s administration for being submissive to the IMF conditionalities for the fund.
In July 2024, his government passed decision to depreciate Ethiopian currency. In the same month, $US 1 was exchanging for 57 Ethiopian birr. Within two weeks it started to see free fall and now it is exchanging up to 130 Ethiopian birr in banks and 150 in the parallel market.
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