Ethiopian Minister of Finance, Ahmed Shidi, said today, Sunday, that his country in the “last stage” of negotiations with the creditors, as part of a plan to restructure his debts.
Ethiopia makes efforts to restructure its sovereign debt within the framework of the G20 initiative, but the talks with the creditors advanced slowly.
Problems
Ethiopia is confronted with difficulties in paying up her huge debts, as she left in 2023 to pay international bonds worth $ 1 billion.
“We are in the last stage of negotiations on the restructuring of the debt,” said the minister at a joint press conference in the Addis Ababa capital, adding that the process will soon be completed.
At the end of last June, the external debt of Ethiopia amounted to $ 28.9 billion, of which almost half east due to multilateral lenders such as the International Monetary Fund, the World Bank and the African Bank development.
“It is at the top of my list of priorities,” said Georgiva, referring to the process of restructuring the debt of Ethiopia.
In July, Ethiopia concluded an agreement with the International Monetary Fund on a new financing program worth $ 3.4 billion.