Search

Ethiopia nears $1bn Eurobond restructuring deal with investors

Addis Ababa, Ethiopia. Photo by Daniel Emale @ Unsplash
Addis Ababa, Ethiopia. Photo by Daniel Emale @ Unsplash
  • Ethiopia reaches draft financial terms with holders of defaulted 2024 bond
  • IMF and official creditors yet to clear non-financial conditions

 

ADDIS ABABA, ETHIOPIAEthiopia 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.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
Read More »
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Is Senegal drifting towards default as political rift deepens?
Read More »
People traveling in a canoe in Ganvie, Benin. Photo @ Unsplash
Can Benin sustain its economic miracle under new finance minister as IMF support ends?
Read More »

Recent Politics

Ambassador Berhanu Tsegaye, State Minister at the Ministry of Foreign Affairs of the Federal Democratic Republic of Ethiopia.
Opinion: Growth, peace and elections power Ethiopia’s next chapter
Read More »
A protester holding the Kenyan flag during a demonstration in Nairobi's streets. Photo: @Pexels
How Ruto’s fuel policies triggered public outrage in Kenya
Read More »
French President Emmanuel Macron and Kenyan leader William Ruto at the Africa Forward Summit. Photo @William Ruto/Facebook
Can France win Anglophone Africa after Sahel influence collapse?
Read More »

Latest Posts

Latest news insights