Ethiopia Secures $2.5 Billion Debt Service Relief Agreement with Creditors

Ethiopia has secured $2.5 billion in debt service relief from official creditors, effective from 2023 to 2028, as announced by the finance ministry.

Ethiopia has reached an agreement in principle with its official creditor committee, which provides for debt service relief totaling approximately $2.5 billion. This arrangement is set to cover the period from 2023 to 2028, as confirmed by the country’s finance ministry. Such relief is significant as it will assist Ethiopia in managing its fiscal challenges during these years.

In summary, Ethiopia’s agreement with its official creditors for $2.5 billion in debt service relief marks a substantial step towards alleviating its financial burdens over the next five years. This relief is expected to play a critical role in stabilizing the nation’s economy during a pivotal period.

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