IMF resuscitates the woyanne regime by loaning $240.6 – Reuters

August 28th, 2009 Print Print Email Email

WASHINGTON (Reuters) – The International Monetary Fund on Wednesday approved a loan of about $240.6 million to help buffer Ethiopia from the impact of the global recession. (more…)

WASHINGTON (Reuters) – The International Monetary Fund on Wednesday approved a loan of about $240.6 million to help buffer Ethiopia from the impact of the global recession.

A disbursement of about $115 million would be made immediately, the IMF said in a statement.

Ethiopia has faced a turbulent external economic environment in the past two years stemming from sharp movements in import prices and then the global slowdown.

One of the world’s poorest nations with an roughly $8 billion economy, Ethiopia has adopted an appropriate program to address the strains on the balance of payments and to keep inflation low, the IMF said.

The program calls for a continued tight fiscal stance, a slowing of the pace of monetary growth, and gradual real exchange rate adjustment, aided by a step depreciation of the birr on July 10, 2009, the IMF said.

“Prudent implementation of this program, accompanied by planned reform measures, will provide a sound macroeconomic environment for economic growth,” the IMF said.

  1. Guest
    | #1

    It is obvious they are building a strong minority tribalist government which they can easily order around. It is difficult to say the country has a sovereign government, it has already been sold out.

  2. Sami
    | #2

    The money is from what the G20 countries promised to give for poor countries some four, five months ago. You see these rich countries don’t want countries like Ethiopia to collapse and become another Somalia. Meles told them that everything is going down and scare them that is why they give him the money to just survive. It doesn’t mean they like what Meles is doing in Ethiopia. Obviously, Meles and his moron followers would take this opportunity to tell us the whole world is with them and the Ethiopian Diaspora struggle is fruitless. So, the Ethiopian Diaspora should just give up and go. Not so fast, the Ethiopian people against evil weyannes both in and out side of Ethiopia will continue regardless the daily news. We have to keep pushing up until we see a real democratic institute in Ethiopia and all the Ethiopian people rights are respected. That is just a natural order; it is not going to stop.

  3. Anonymous
    | #3

    ሰላም;
    አዎ ወያኒ በጥፋት ጎዳና ላይ የቀናው በመስልም ምውድቁ ስልማይቀር በጋራ እንነሳ:: የሚሰሩ ስዎችን እንደግፍ::
    ዘርን መሰረት ማድረግና መከፋፈል ሁዋላ ቀርነት ነው::
    ሀገር::

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