Ethiopia's state-led development model has delivered rapid economic growth, reduced poverty, and improved social welfare. However, structural transformation has proceeded less quickly than planned, and slow export growth has increased external vulnerabilities. In addition, over the past year the economy has faced a sharp appreciation of the real exchange rate, a significant widening of the current account deficit, and (more recently) an increase in inflation. Large public borrowing from abroad, combined with weak exports, resulted in the risk of external debt distress increasing from "low" to "moderate".
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|Size: ||6.6 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2015|
|ISBN: ||9781513520872 (DRM-EPUB)|
|Read Aloud: ||not allowed|