Ethiopia's new debt-service suspension will mirror China dealAn agreement being finalised with Ethiopia's official bilateral creditors is expected to largely mirror a previous deal with China that suspended debt payments for the fiscal year ending next July, a senior finance ministry official said.
Eyob Tekalign, State Minister of Fiscal Policy and Public Finance, also said that the government was reaching out to holders of a Eurobond maturing in December 2024 to set up meetings about a restructuring.
The finance ministry announced on Wednesday that Ethiopia had reached an agreement in principle with its official bilateral creditors on an interim debt-service suspension, after striking a deal in August with China.
"With China we have a two-year debt suspension," said Eyob. "So essentially the creditors committee has put forward the same proposal for all our other creditors - largely similar terms. Some could be more favourable."
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