The Federal Democratic Republic of Ethiopia: 2005 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for The Federal Democratic Republic of Ethi

2005 Article IV Consultation: Staff Report; Staff Statement; 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 2006 Issue 159

Publication date: May 2006

ISBN: 9781451812787

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , authority , treasury bill issuance , commercial bank treasury bill holding , financing needs , inflation rate , issuance , import growth , Plan for Accelerated and Sustained Development to End Poverty , Public enterprises , Imports , Commercial banks , Debt relief , Sub-Saharan Africa , East Asia

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Summary

The Federal Democratic Republic of Ethiopia’s 2005 Article IV Consultation reports that domestic credit growth has accelerated, driven by strong demand from the government, public enterprises, and the private sector. High import content, particularly from public infrastructure investments, together with higher oil imports, has translated into widening trade and current account deficits, and emerging pressures on international reserves. Inflation pressures are rising, driven by both demand pressures and higher import costs. The real effective exchange rate has appreciated moderately.