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Economic news

Ethiopia to save $4.9 billion from debt restructuring, says state finance minister

08/02/2024

Less than a minute

2024.08.02 05:43

NAIROBI (Reuters) – Ethiopia will save $4.9 billion from its debt restructuring exercise, State Finance Minister Eyob Tekalign said on Friday.

© Reuters. FILE PHOTO: Ethiopia's State Finance Minister Eyob Tekalign attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 15, 2022. REUTERS/James Lawler Duggan/File Photo

The East African country is putting its long-delayed debt overhaul back on track after securing a new International Monetary Fund financing programme.

“It is captured fully in the OCC (Official Creditor Committee) working paper. But we will sign and finalise with each individual country over the course of the next few months,” Eyob told Reuters.

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08/02/2024

Less than a minute