- Ethiopia reaches draft financial terms with holders of defaulted 2024 bond
- IMF and official creditors yet to clear non-financial conditions
ADDIS ABABA, ETHIOPIA – Ethiopia has reached a preliminary agreement with key holders of its defaulted 2024 Eurobond, a significant step in its long-running debt restructuring process.
The draft deal, struck with a group of investors holding part of Ethiopia’s $1 billion international bond, outlines the main financial terms of a proposed restructuring, according to a statement from the Ministry of Finance. The agreement-in-principle marks the most tangible progress yet in negotiations that have dragged on for months following the country’s default.
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