Ethiopia has reached an Agreement in Principle (AIP) with its Official Creditor Committee (OCC) on the key financial parameters of a debt treatment plan under the G20 Common Framework, covering approximately USD 8.4 billion in outstanding public debt.
In a statement issued today, the Ministry of Finance announced that, as part of a financing package already agreed with the International Monetary Fund (IMF), Ethiopia has committed to negotiating debt relief with its external creditors to achieve a USD 3.5 billion reduction in debt service during the program period. The AIP with the OCC is a step toward meeting this goal, providing approximately USD 2.5 billion in debt service relief between 2023 and 2028.
The…
