ethiopiantimes

October 13, 2011

Ethiopia’s ‘Distorted’ Monetary Policy Needs Reform, IMF Says

Filed under: Ethiopia — ethiopiantimes @ 8:30 am
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(Bloomberg) — Ethiopia’s “highly distorted” monetary policy requires “urgent reform” because it is dragging on economic growth and undermining macroeconomic stability, the International Monetary Fund said.

The Horn of Africa country’s five-year growth plan, which targets annual growth of 11.2 percent, is “very ambitious” and above the potential growth estimated at 6 percent to 8 percent, the Washington-based lender said in an e-mailed statement today.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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