The Federal Democratic Republic of Ethiopia: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Federal Democratic Republic of Eth

2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Federal Democratic Republic of Ethiopia

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 247

Publication date: July 2007

ISBN: 9781451812800

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Topics covered in this book

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Banks and Banking , Exports and Imports , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , debt , GDP , deficit , inflation , prudent fiscal policy , GDP deflator , excess reserves , debt relief , meeting PASDEP target , private sector , Imports , Debt relief , International reserves , Commercial banks , Africa , Sub-Saharan Africa

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Summary

The Federal Democratic Republic of Ethiopia’s 2007 Article IV Consultation reports on the macroeconomic imbalances and on maintaining medium-term macroeconomic stability while fostering growth potential. Although agriculture continues to be the mainstay of the economy, the expansion has been broad-based, with manufacturing, construction, and services making significant contributions. Expansion of domestic credit has continued to be brisk, reflecting a pickup in private sector economic activity and increasingly negative real interest rates. A critical challenge for Ethiopia is to strike a judicious balance between demand-dampening measures and growth-enhancing structural reforms.