News & Current Affairs
Addis Secures Debt Restructuring Deal to Ease Financial Burden
Ethiopia has reached an agreement with its official creditors to restructure $8.4 billion in international debt, marking a major step in its economic recovery efforts. The deal, negotiated under the G20 Common Framework and backed by the International Monetary Fund, will reduce debt service payments by $2.5 billion through 2028. According to Ethiopia’s finance ministry, the agreement will free up funds for essential public investments, supporting economic growth. While details of the restructuring terms were not disclosed, the move is expected to provide much-needed financial relief and stability for the country’s long-term development.
Source: Bloomberg
