The Governor of the National Bank of Ethiopia provided a detailed overview of Ethiopia’s ongoing macroeconomic reform program during a “Governor’s Talk” session held on the sidelines of the 2025 IMF-World Bank Spring Meetings in Washington, D.C.
In a conversation with Mr. Abebe Aemro Selassie, Director of the International Monetary Fund’s (IMF) African Department, the Governor highlighted the major reforms Ethiopia has undertaken across the monetary, financial, and external sectors. He emphasized the adoption of a price-based monetary policy framework aimed at curbing inflation and enhancing policy transparency. He also described the efforts to strengthen the financial sector by modernizing financial infrastructure, reinforcing the regulatory environment, and promoting broader financial inclusion. In the external sector, he pointed to the shift toward a market-determined exchange rate system and the measures taken to improve foreign exchange availability and strengthen the balance of payments position.
The Governor noted that these reforms are already delivering positive results. Inflation has shown a notable decline, the financial sector has become more resilient and transparent, and the foreign exchange reserves and overall external sector stability have significantly improved. He stressed that Ethiopia’s reform program is designed to be carefully sequenced, balancing the immediate need for macroeconomic stabilization with the longer-term objective of achieving sustainable and inclusive economic growth.
The full “Governor’s Talk” session is available to watch here.
The National Bank of Ethiopia remains committed to advancing Ethiopia’s economic transformation through sound monetary, financial, and regulatory policies, in close collaboration with international partners and the financial community.
