Ethiopia, which defaulted on the bond in December 2023, formalised a restructuring deal with official creditors last July, paving the way for talks with bondholders. Under the terms of that deal, bondholders would take a 15% write down on the principal amount through an exchange for a new $850 million bond maturing in mid-2029. “The OCC will continue to support the Ethiopian authorities in their efforts to reach an agreement comparable to the OCC’s debt treatment, and stands ready to engage in good faith with all parties to reach such an outcome,” it said. Separately, the International Monetary Fund, which provides calculations on Ethiopia’s debt levels, raised projections for export earnings and reserves. Ethiopia’s bond shed close to half a cent this Monday, to bid at 105.08 cents on the Dollar, Tradeweb data showed, extending its losses after the official creditors’ announcement on Friday.

Source: Ethiopian News February 03, 2026 07:25 UTC