Ethiopia’s recent macroeconomic performance continues to be strong, with robust economic growth supported by higher agricultural production, and large public sector and foreign direct investments. Inflation remains contained in single digits and the fiscal stance at the general government level is cautious, although public enterprises continue to provide an expansionary impulse.
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.
Press Release No. 15/445
September 30, 2015
On September 21, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Ethiopia.
International Monetary Fund’s (IMF) Managing Director, Ms. Christine Lagarde, is set to visit Ethiopia by the next Friday. The visit by the IMF official is going to be the first time the head of the organization visits the Horn of Africa nation.
The International Monetary fund issued a statement praising the macroeconomic and general development performance of 
Ethiopia in the last year after carrying out the recent Article IV Consultation.
The IMF delegation lead by Michael Antingi-Ego announced that the execution of tight monetary policies by the central bank including efforts to contracting the money supply and sterilizing foreign exchange has contributed to decelerating the rate of inflation significantly.
The report cited the National Bank’s initiative to reduce the gross foreign exchange reserves to cover less than two months of imports from the considerably high reserves in the last fiscal year which had been an inflationary principle.
