Posted 11/15/2023, 9:10:00 AM
Ethiopia Secures Debt Relief from Bilateral Creditors, Seeks to Restructure $1 Billion Eurobond
- Ethiopia reaches agreement with bilateral creditors on interim debt relief through 2024
- Seeks to restructure $1 billion Eurobond maturing in 2023 amid economic pressures
- Requested debt relief under G20 Common Framework while in IMF program talks
- China, which co-chairs creditors committee, already allowed Ethiopia to suspend payments
- Informal bondholder group proposed extending 2024 Eurobond maturity to 2029/2030