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Ethiopia, Creditors Set Up Panel to Revamp $30 Billion of Debt

  • IMF had urged nation’s creditors to urgently create committee
  • Ethiopia’s major creditors include China, European nations
Photographer: Michael Tewelde/Xinhua/Getty Images

Ethiopia’s major creditors created a panel to revamp some of the nation’s about $30 billion of overseas debt, according to people with knowledge of the matter.

An announcement on the formation of the committee will be made within days after the Ethiopian authorities and the creditors agree on pending terms, the people said, asking not to be identified because the matter is not yet public.