Ethiopia asks bondholders for debt relief early, ‘likely once and for all’

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Ethiopia asks bondholders for debt relief early, ‘likely once and for all’

11:43 CAT | 15 Dec 2023

File photo: Reuters

Ethiopia’s finance ministry said on Friday that it was asking its international bondholders to offer early, “likely once and for all” debt relief, as it hurtles towards default having missed a coupon payment.

It said in a statement published on the social media platform X, formerly known as Twitter, that it recognised risks to bondholders from the approach. It said it was ready to discuss “possible mitigants, including a loss reinstatement provision” that would return bondholders to their previous position if there was a need to renegotiate the agreement in the next two years.

Source: Reuters