IMF Executive Board Concludes 2013 Article IV Consultation with the Ethiopian Goverment
On September 18, 2013, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Federal Democratic Republic of Ethiopia. Recent macroeconomic developments are encouraging, with a significant deceleration in inflation and continued robust economic growth.
Despite significant decline in coffee prices and supply bottlenecks, growth remains robust, supported by better agriculture output and construction and other services activities. Inflation declined from the peak of 40 percent in July 2011 to around 7 percent in June 2013. This has significantly eased the extent to which real interest rates were negative. Pressures resulting in foreign exchange shortages in the wake of the passing away of Prime Minister Meles have eased.
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