Global Courant 2023-04-15 01:03:25
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Today, World Bank President David Malpass met Ethiopian Finance Minister Ahmed Shide.
In his meeting with Minister Shide, President Malpass discussed the progress made by the Ethiopian authorities in implementing the November 2022 peace agreement. President Malpass encouraged further steps towards lasting peace and prosperity for all Ethiopians.
President Malpass and Minister Shide spoke at length about the challenging global outlook for developing countries and Ethiopia’s urgent need to restore macroeconomic stability. President Malpass emphasized the benefits of swift and decisive policy reforms amid the challenging context of drought, internal conflict, debt burden and mounting structural challenges.
President Malpass urged the government to remove macroeconomic disruptions that will slow inflation and unlock investment. President Malpass stressed the importance of moving away from a state-driven economic model, and improving the business environment, enabling more competition in the financial sector and fostering private sector-led growth.
President Malpass noted slow progress in the implementation of the G20 common framework and urged an early agreement between official bilateral and private creditors on debt treatment for Ethiopia. President Malpass emphasized the World Bank Group’s strong support to Ethiopia, including budget support in the form of grants and highly advantageous credit, as the government implements a robust reform program to restore macroeconomic stability and poverty reduction.
Distributed by APO Group on behalf of The World Bank Group.
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