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Ethiopia is negotiating with the IMF and World Bank for USD 10.5 billion in financial assistance, according to Prime Minister Abiy Ahmed (PhD).

He cited the figure during an address to Parliament today.

“The negotiations with IMF and WB are taking a long time. They have their own terms, we have our own terms. They are not easy [to deal with]we are not easy [to deal with]. We’ve been negotiating for five years now,” he told lawmakers.

The PM said concerns over the widening budget deficit led to the “small” proposal of 971 billion birr for the upcoming fiscal year.

“We expect [the IMF and WB] will finance our reform program. If we receive this financing, our budget will grow substantially in the coming years,” said Abiy.

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