Ethiopia’s Ministry of Finance has finalized a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC), formalizing a debt treatment agreement first reached in principle in March 2025. The deal grants Ethiopia over USD 3.5 billion in debt relief, marking a step toward restoring long-term public debt sustainability after years of negotiations.

The government expressed its deep gratitude to OCC members, especially the committee’s co-chairs, China and France, for their crucial role in supporting the process. The agreement’s terms will now be implemented through bilateral deals with each OCC member.

Finance State Minister Eyob Tekalign Tolina voiced optimism about swiftly concluding these…

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Malik Beasley is currently at the center of a gambling investigation that mirrors the situation that led to Jontay Porter earning a lifetime ban from the NBA. The guard has made $60 million during his career, but it appears he was facing a fairly unstable financial situation based on the various debts he racked up before drawing the attention of the federal government.

Anyone who’s seen the 30 For 30 documentary Broke is aware that more than a few professional athletes have managed to burn through an amount of cash that most people would consider a fortune, and the NBA is one of a few leagues that have institued a financial literacy program in an attempt to prevent its…

Ethiopia has reached a significant milestone in its ongoing efforts to address mounting external debt, securing a $3.5bn debt relief package through an agreement with its Official Creditor Committee (OCC), the Ministry of Finance announced on Wednesday.

The memorandum of understanding was concluded under the G20 Common Framework for Debt Treatments, a multilateral initiative aimed at supporting low-income countries facing debt distress. While the financial scope of the agreement has been disclosed, specific terms and conditions — including what Ethiopia may be offering in return — have not been made public.

In an official statement, the Ministry of Finance described the agreement as “an important milestone in Ethiopia’s journey…

In a major step toward stabilizing its public finances, the Ethiopian government has finalized a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) under the G20 Common Framework, securing debt relief exceeding USD 3.5 billion.

The agreement formalizes a deal reached in principle back in March 2025 and marks the successful end of a complex, multi-year negotiation process. The OCC is co-chaired by China and France, with other bilateral creditors participating. The debt relief is expected to ease Ethiopia’s external payment pressures and help restore long-term debt sustainability amid ongoing macroeconomic reforms.

According to the Ministry of Finance, the MoU will now be followed by bilateral…

The National Company Law Tribunal (NCLT), Chandigarh Bench, has admitted an insolvency petition against Zyngo EV Mobility Private Limited, thereby initiating the Corporate Insolvency Resolution Process (CIRP) for the electric vehicle mobility firm. The order, delivered today, comes in response to an application filed by Shree Shayama Constructions Private Limited, a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, citing a default on a payment of Rs 1.62 crore.

The Tribunal has appointed Manoj Kumar Jain as the Interim Resolution Professional (IRP) for Zyngo EV Mobility Private Limited. His responsibilities include taking control of the company’s operations and assets, managing its…

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The research, released by not-for-profit research body e61 Institute on Thursday found the policy as is, doesn’t meaningfully speed up debt repayment, and unfairly benefits students who graduated in 2024.

Instead of a 20 per cent cut to balances, e61 said the relief would be better targeted if Australia’s with student debt were given a flat $5500 cut.

The figure also represents the average amount set to be wiped across all HELP accounts.

e61 said that a $5500 reduction would help 35 per cent of…

The Borrowers’ Forum is being hailed as a milestone in efforts to reform the international debt architecture, supported by the UN and emerging as a key part of the Sevilla Commitment outcome document.

“This is not just talk – this is execution,” said Egypt’s Minister of Planning and Economic Development, Dr Rania Al-Mashat. “The Borrowers’ Forum is a real plan, driven by countries, to create a shared voice and strategy in confronting debt challenges.”

Rebeca Grynspan, Secretary-General of UN Trade and Development (UNCTAD), said developing nations often face creditors as a united bloc while negotiating alone. “Voice is not just the ability to speak — it’s the power to shape outcomes. Today, 3.4 billion people live in…