Prime Minister Meles Zenawi confidently asserted that the country is on the right economic path and is in accordance with the report released by the International Monetary Fund (IMF) on Tuesday, April 13, 2010, at the fifth fiscal year of 24th regular session of Parliament.

The day was marked by an unusual face-off between the Prime Minister and opposition leaders, including the rare use of insulting language with Temesgen Zewde (MP-CUD) accusing Meles of whistling, while the Prime Minister tried to make fun of Temesgen's mispronunciation of the word "fiscal" as "physical." Meles was also strongly criticised by Lidetu Ayalew (MP-EDP) for ignoring all the questions that he had asked him on the economy.

Meles reported, nevertheless, that the economy has been steadily growing and export trade has increased in the last eight months by 21pc.

"We have attained an average of more than 10pc economic growth for the seventh consecutive year," Meles said to Parliament.

The economic growth of more than 10pc claimed to have been accomplished by Meles was not possible, Bulcha Demeksa (MP-OFNM) said.

"It is countries like China, South Korea, and Taiwan that have achieved this type of growth, Bulcha said. "I do not think that Ethiopia has achieved that."

The country lacked clear fiscal and monetary policies, said Temesgen who shared his views.

Nonetheless, Meles rejected the suggestions made by some of the opposition MPs and argued that the differences the government has with the IMF's numbers were in predictions, while the report being released covering current trends is actually quite similar.

Contrary to the opposition's claims, the report by the IMF Mission to Ethiopia suggests that the country's economic outlook is favourable but its government needs to step up its anti-inflation and foreign currency rebuilding measures.

Moreover, the IMF suggested that overall inflation decelerated sharply to 7.1pc at the end of 2009 following very high inflation in 2008 and early 2009. But non-food inflation remains close to 20pc and has been rising in recent months.