JOHANNESBURG, Dec 14 (Reuters) - Ethiopia's government told bondholders on Thursday it was hoping to negotiate a rework of its single international bond quickly and was set to include a form of "loss reinstatement" provision for investors, three sources attending the call told Reuters. However, it included a reference to a "loss reinstatement" provision to compensate bondholders if Ethiopia were to suffer another default that would affect bonds issued after the rework. However, the provision outlined by the government was not offering exactly what bondholders had envisaged, two of the sources said. Ethiopia requested debt relief under the G20's Common Framework in early 2021, but progress was initially delayed by the war. It agreed a debt service suspension with its official creditors ahead of negotiating more debt relief with them.

Source: Ethiopian News December 14, 2023 19:05 UTC