Ethiopia GDP to grow at 6.2% at 2020 fiscal year - IMF

The International Monetary Fund forecast that Ethiopia’s economy will grow at 6.2% in the 2020 fiscal year, it said in a statement on Tuesday, well below the government forecast of 10.8% but in line with World Bank estimates.

“Performance of goods exports remained weak and foreign exchange shortages persist,” the bank staid in a press release. Reserves are expected to improve to around $4 billion by July, when the 2020 fiscal year ends, sufficient to cover two months of prospective imports, the bank said.