IMF approves immediate disbursement of $248 mn to Ethiopia

The Executive Board of the International Monetary Fund (IMF) has approved an immediate disbursement of approximately $248 million to Ethiopia to help the East African country meet its balance of payments needs. This disbursement is part of Ethiopia's Extended Credit Facility (ECF) arrangement totaling around $3.4 billion, which was approved in late July last year, Xinhua news agency reported.