Welcome to Foreign Policy’s Africa Brief.
The highlights this week: Ethiopia reaches a milestone in its debt relief process, the United States sanctions a major Rwandan gold refinery, and Cape Verde makes history at the FIFA World Cup.
After a tumultuous five-year struggle, there are signs that Ethiopia’s debt relief process may finally be nearing its end. On Monday, Addis Ababa announced that it had reached a preliminary deal to restructure its defaulted $1 billion international bond after private creditors threatened to sue the Ethiopian government in U.K. courts.
The restructuring has become a test case for the Group of 20’s Common Framework, which is designed to help developing nations unify…