The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper reviews economic developments in Ethiopia during 1995-99. It provides an update on macroeconomic performance and structural reforms during FY96-FY99 (fiscal year ended July 7), when Ethiopia-as Africa's second most populous country and one of the world's poorest nations-continued to make strides in transitioning to a market-based economy and alleviating widespread poverty. The paper also highlights the major challenges in the areas of financial sector liberalization, civil service reform, and privatization.