S&P Global Sees Ethiopia IMF Deal Within Reach, Paving Way for Debt Relief
- Ethiopia’s $26 billion debt restructuring stalled on conflict
- Peace agreement in November opens door to renewed negotiations
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An International Monetary Fund loan for Ethiopia is “definitely back on the table,” according to S&P Global Ratings, a key step to restart the Horn of Africa nation’s delayed debt-restructuring plans.
Ethiopia requested debt relief under the Group of 20’s Common Framework more than two years ago, but the process was stalled by a civil war in the country and an expired IMF credit facility. A peace deal signed between the government and dissidents from the northern Tigray region four months ago rekindled chances of a new agreement with the lender.