Based on the search results, here is the latest information on Ethiopia’s finance sector:
1. Ethiopia takes first step towards liberalizing finance sector: According to the Financial Times, Ethiopia has taken the first step towards liberalizing its finance sector. The country is aiming to attract foreign investment and boost economic growth by opening up its financial markets.
2. Ministry of Finance discusses financing for development conference: The Finance Minister of Ethiopia, Ahmed Shide, recently discussed the upcoming preparatory meeting for the 4th Conference on Financing for Development. The meeting is scheduled took place from July 22-26, 2024, in Addis Ababa.
3. Ethiopia’s only foreign-owned finance group withdraws citing FX constraints: Ethiopia’s only foreign-owned finance group has withdrawn from the country, citing foreign exchange constraints. This development highlights the challenges faced by foreign investors in Ethiopia’s finance sector.
4. Ethiopia fails to pay coupon, becoming the latest African defaulter : Ethiopia recently became the latest African country to default on its debt. The government failed to make an interest payment following the end of a grace period. The finance minister stated that the government wanted to treat all creditors equally.
5. Ethiopia aims to get $3.5 billion under IMF program : Ethiopia is in talks with the International Monetary Fund (IMF) to borrow around $3.5 billion under a reform program. The country has been requesting “exceptional access” to IMF funding since 2022. The exact amount of funding has not been disclosed. These are the latest developments in Ethiopia’s finance sector based on the available search results. It’s important to note that the information provided is based on snippets from various sources, and for a more comprehensive understanding, it is recommended to refer to the full articles.
