Ethiopia has secured a debt service relief of $2.5 billion from its official creditors, covering the period from 2023 to 2028. This deal aims to improve the nation’s financial stability according to the finance ministry’s announcement.
Ethiopia has reached a preliminary agreement with its official creditor committee, which incorporates a significant debt service relief of $2.5 billion. This relief is scheduled to occur from 2023 to 2028, according to a statement from the country’s finance ministry. The agreement is a crucial step towards improving Ethiopia’s financial situation and ensuring the sustainability of its economic policies during the specified period.
The recent agreement between Ethiopia and its official creditors marks a pivotal moment in the country’s approach to managing its substantial debt. The $2.5 billion debt service relief over the next five years will provide Ethiopia with the necessary financial flexibility to stabilize and enhance its economic growth.
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