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The Federal Democratic Republic of Ethiopia : request for disbursement under the rapid-access component of the exogenous shocks facility : staff report : staff supplement : press release on the Executive Board discussion : and statement by the Executive Director for the Federal Democratic Republic of Ethiopia

Author: International Monetary Fund. African Department,
Publisher: [Washington, D.C.] : International Monetary Fund, ©2009.
Series: IMF country report, no. 09/34.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
1. Ethiopia's ambitious development policies have delivered rapid economic growth, but also contributed to rising inflation and strong import demand. Official statistics suggest that since 2003/04 real GDP growth has averaged 11.5 percent, fueled by public development spending. 1 During this period, year-on-year non-food price inflation rose to 28 percent in November 2008, with steep rises in food prices pushing  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Fund, International Monetary.
Federal Democratic Republic of Ethiopia: Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility - Staff Report; Staff Statement; Press Release on the Executive Board Discussion.
Washington : International Monetary Fund, ©2009
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund. African Department,
ISBN: 1451879873 9781451879872
OCLC Number: 456555779
Description: 1 online resource : color illustrations.
Contents: Cover; Contents; Executive Summary; I. Background; II. The Economic Impact of Commodity Price Shocks; III. Policies to Address the Shocks; IV. Macroeconomic Outlook and Risks; V. External Financing Needs and Donor Support; VI. Capacity to Repay the Fund; VII. Staff appraisal; Tables; 1. Selected Economic and Financial Indicators, 2004/05-2009/10; 2. General Government Operations, 2004/05-2009/10; 3. General Government Operations, 2004/05-2009/10; 4. Monetary Survey, 2004/05-2009/10; 5. Balance of Payments, 2005/06-2009/10; 6. Indicators of Capacity to Repay the Fund, 2007-18; Appendix.
Series Title: IMF country report, no. 09/34.
Responsibility: [prepared by the African Dept. in consultation with other departments].

Abstract:

1. Ethiopia's ambitious development policies have delivered rapid economic growth, but also contributed to rising inflation and strong import demand. Official statistics suggest that since 2003/04 real GDP growth has averaged 11.5 percent, fueled by public development spending. 1 During this period, year-on-year non-food price inflation rose to 28 percent in November 2008, with steep rises in food prices pushing overall CPI inflation to 49 percent. Rising import demand and import prices have steadily eroded a once-comfortable foreign exchange position; by end-November 2008, reserve cover had fallen to just 1 month of imports of goods and services.

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