Ethiopia has reached an agreement in principle with its official creditors during debt default negotiations, the country’s state finance minister said on Friday.
The East African nation opted to restructure its external debt under the G20’s Common Framework before it defaulted on its sole Eurobond in December 2023.
It struck a financing deal with the International Monetary Fund last July, enabling it to attempt to jumpstart the stalled debt restructuring process.
“AIP (Agreement In Principle) is reached,” Eyob Tekalign said, without providing more details. Reports said.
Reuters/Shakirat Sadiq
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