Ethiopia has reached an agreement with its official creditor committee for $2.5 billion in debt service relief from 2023 to 2028, as announced by its Finance Ministry.

Ethiopia’s Finance Ministry announced an agreement in principle reached with its official creditor committee that would provide approximately $2.5 billion in debt service relief over the period from 2023 to 2028. This arrangement is aimed at alleviating the country’s financial burdens and enhancing its economic stability during a challenging fiscal period. The relief is expected to assist Ethiopia in navigating its economic challenges more effectively.

In summary, Ethiopia has secured significant debt service relief amounting to $2.5 billion, aimed at easing the nation’s fiscal strain from 2023 to 2028. This agreement with official creditors represents a crucial step towards stabilizing Ethiopia’s economy and responding to its financial pressures effectively.

Original Source: www.tradingview.com