Latest

World Bank approves $1.5 billion Ethiopia rescue package
World Bank approves $1.5 billion Ethiopia rescue package

The World Bank has approved a $1.5 billion financial package to support cash-strapped Ethiopia's economic reform programme after officials loosened curbs on the local currency. The IMF board on Monday approved a four-year loan programme worth around $3.4 billion to support the reforms, with around $1 billion immediately disbursed.