Ethiopia seeks debt relief from other creditors after China, IMF official says

Ethiopian authorities said in August that China was allowing Ethiopia to suspend debt payments for the fiscal year running until July 7, 2024. "The Chinese authorities have already provided debt relief to Ethiopia and we understand that they're in the process of requesting a similar treatment from other creditors. "There is a debt service suspension with China, which is providing substantial relief," she said, adding that this was the agreement announced in August. A visit by IMF staff to Ethiopia from Sept. 25 to Oct. 3 ended without a loan agreement. Ethiopia regularly suffers from foreign exchange shortages and a wide gap between the official and black market currency exchange rates.