Ethiopia in Talks to Restructure $1 Billion More of Debt
- Government says new plan to rework debt excludes Eurobonds
- Separately, IMF asks government to form creditor committee
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Ethiopia plans to restructure an additional $1 billion of debt as the government seeks to free up funds to support its economic recovery.
Restructuring of the debt will provide a grace period of as long as six years and extend the maturity by 10 years, the Finance Ministry said in a report on its website. “$2.5 billion in principal and interest payment has been postponed for five years by commercial creditors under the first external debt restructuring scheme,” according to the report.