Ethiopia has taken the third position in the list of African countries’ 2025 growth forecasts released by the International Monetary Fund (IMF) over the weekend.
The IMF has unveiled its 2025 growth forecast list for African countries.
According to the IMF’s projection, Ethiopia is expected to record a 6.6 percent growth.
The organisation listed the 2025 growth for 15 African countries; Senegal is projected to have 8.4 percent growth and Rwanda 7.1 percent growth, and the report indicated that Ethiopia will register a 6.6 percent growth in 2025.
IMF said after four years of crisis, sub-Saharan African countries have already faced a significant challenge in their efforts to deliver economic stability while also advancing long-term development goals, all amid high social expectations.
They have faced difficult situation by yet another shock, in the form of higher global borrowing costs, additional constraints on external funding, a downturn in global demand, lower prices for some key commodities, and a step increase in economic uncertainty, it said.
According to the report, the region’s progress and perseverance over the past few years is notable, but continued efforts will be needed to sustain the recovery and enhance the region’s resilience. Caution, consistency, and credibility are now more important than ever.
The report said historical experience suggests that stabilising debt across sub-Saharan Africa is still achievable in most cases, even though debt levels are elevated and vulnerabilities are high.
Countries in the region, over recent decades, have often been able to consolidate (stabilise or reduce) their debt ratios without debt restructuring.
Many countries have done so recently, even after the end of the commodity super cycle.
MG/as/APA