As the G20 debt restructuring scheme is delayed, officials from Ethiopia proceeded to France and China, the co-chairs of Ethiopia’s creditors committee, to make last-ditch attempts. According to reports, this has made it difficult for the IMF and western creditors to decide on restructuring Ethiopia’s debt. Abiy has talked about normalization with Europe in addition to lobbying France, which, along with China, chairs Ethiopia’s creditors’ committee. Currently, experts at the United Nations Development Program (UNDP) in Ethiopia are currently crafting Ethiopia’s debt restructuring analysis. “Unless the overall political environment improves, there is no way the debt restructuring scheme will resume,” an official close to the matter said.

Source: Ethiopian News February 25, 2023 12:13 UTC