Ethiopia Says ‘Affordable’ Bond Payment Withheld on Equality
- Finance Ministry says payment withheld for equal treatment
- Ethiopia cites debt-service suspension to official creditors
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Ethiopia’s government aims to conclude a deal with bondholders early next year on the terms of a restructuring of a $1 billion eurobond that it declined to make a coupon payment on this month, according to investors who participated in a call with Finance Ministry officials on Thursday.
The officials said private creditors and the government came close to an agreement, but will be unable to conclude it before the end of December, said the participants, declining to be identified because the call was closed to the press. The biggest obstacle was of a technical nature related to secured payment streams, one of the people said.