Press Release: IMF Executive Board Approves US$240.6 Million Arrangement for the Federal Democratic Republic of Ethiopia Under the Exogenous Shocks Facility

The Executive Board of the International Monetary Fund (IMF) today approved a 14-month, SDR 153.755 million (about US$240.6 million) arrangement under the Exogenous Shocks Facility (ESF) to help Ethiopia cope with the effects of the global recession on its balance of payments. The arrangement (115 percent of Ethiopia’s quota) was approved under the high access component of the ESF, a facility designed to provide policy support and financial assistance on concessional terms to eligible low-income countries facing temporary exogenous shocks. A disbursement of SDR 73.535 million (about US$115.1 million) will become available following the Board’s decision.

Press Release: IMF Executive Board Approves US$240.6 Million Arrangement for the Federal Democratic Republic of Ethiopia Under the Exogenous Shocks Facility

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