IMF Announces $2.9 Billion Financial Assistance for Ethiopia

By Staff Reporter

IMF-EthiopiaDecember 12, 2019 ( -- The International Monetary Fund (IMF) has announced a $2.9 billion financial assistance to Ethiopia, Prime Minister Abiy Ahmed has disclosed.

In his face-book page on Thursday, the Ethiopian premier said the money will be used to finance the implementation of the recently launched homegrown economic reform.

The Financial Times on Wednesday reported that the IMF is poised to approve landmark nearly $3 billion loan for Ethiopia while a day before Ethiopian State Minister of Finance Dr. Eyob Tekalegn disclosed that World Bank (WB) and International Monetary Fund (IMF) decided to provide a total of $6 billion to support the government's economic reform.

Meanwhile, tens of thousands of people in Addis Ababa have rallied on the streets of Addis Ababa to express delight over the achievement of Prime Minister Abiy Ahmed to win the 2019 Nobel Prize.

The premier was accorded a hero’s welcome all the way from Bole International Airport to the national palace with youngsters singing and dancing in praise of the premier’s achievement.

A high-level government official with Deputy Prime Minister Demeke Mekonnen at the front welcomed the premier as the police marsh band played various music in tribute of the 2019 Nobel Prize Winner.

A 21-gun salute was also fired in honor of the Prime Minister.

Speaking at Bole International Airport, Prime Minister Abiy Ahmed said the Nobel Prize opens a great opportunity to build the country’s image and called on all Ethiopians to join hands and make use of the prize to speed up the nation’s development.

The Prime Minister extended his gratitude to the peoples of Ethiopia, friends of Ethiopia, Eritrea, and President Isaias Afwerki in particular.

The Prime Minister expressed his hope that he will celebrate the Noble Peace Prize achievement with Eritrean President Isaias Afwerki shortly.

With the winning of the prize, Ethiopia, Eritrea, and East African countries draw the attention of the world as over 1.5 billion people reportedly followed the awarding ceremony live, Abiy added.

He called on Ethiopians to seize the opportunity to build their country by listening to each other and resolving their differences.

Abiy Ahmed received the Nobel Peace Prize 2019 in Oslo, Norway last Tuesday in recognition of his personal efforts in ending two decades of enmity with neighboring Eritrea, making efforts to build democracy in the country and contributing peace and reconciliation processes in East and North East Africa.

In a dinner reception at the national palace, Prime Minister Abiy Ahmed called on the people of Ethiopia to work hard and make use of their country’s favorable climate conditions and landscape to get country out of quagmire poverty and begging.

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