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IMF says Ethiopia will become middle income country soon

Tigrai Online
March 04, 2012

Ethiopia to become a middle income country soon-imf -Tigrai Onlien The International Monetary Fund (IMF) said Ethiopia will join the list of middle income countries if its rapid growth further continues strengthened within short period.

Prime Minister Meles Zenawi here on Saturday discussed with IMF Deputy Managing Director Naoyuki Shinohara.

Shinohara lauded Ethiopia for implementation of its Growth and Transformation Plan and expressed commitment of the IMF to work with Ethiopia.

He said IMF in particular will further strengthen cooperation in capacity building in the areas of tax collection system and budget administration.

Meles on the occasion briefed Shinohara on the ongoing efforts of the government to reduce inflation.

The inflation rate is getting reduced, he said, adding, the measures being taken by the government will further be strengthened.

A team led by Shinohara discussed with Finance and Economic Development Minister Sufian Ahmed and also the Governor of the National Bank of Ethiopia, Gebrewold Atnafu during its week long stay in Ethiopia.

IMF is an international organization that was conceived on July 22, 1944 and came into existence on December 27, 1945 with a goal to stabilize exchange rates and assist the reconstruction of the world’s international payment system.

Ethiopia is one of the 74 founding countries, according to documents.

Source, ENA

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