Ethiopia gets more time to repay debt but avoids any write-down

Ethiopia gets more time to repay debt but avoids any write-down

Ethiopia’s official creditors have agreed to a draft debt restructuring plan, offering the nation more time for repayments. This deal, however, will not include an outright reduction of the principal debt.  The agreement, expected to be finalized within months, aims to provide approximately $2.5 billion in debt service relief.  This relief will be implemented throughout Ethiopia’s current International Monetary Fund (IMF) program, which conclude…

Ethiopia Secures Debt Restructuring Deal, Extends Payment Deadlines - Addis Insight

Ethiopia’s official creditors are nearing the completion of a debt restructuring agreement that will extend payment deadlines, but will not involve any reduction of the country’s outstanding debt, as confirmed by William Roos, co-chair of the Official Creditor Committee (OCC).Following its default in December 2023, Ethiopia reached a preliminary deal in March with its creditors to restructure $8.4 billion in debt, marking a key milestone in addr…