ETHIOPIA has taken a significant step toward debt relief with assistance from China and is actively pursuing similar arrangements with
other creditors. Annalisa Fedelino, Deputy Director of the
International Monetary Fund’s Africa Department, shared this development in a statement to Reuters on Friday.
Fedelino also revealed that the IMF is on t
he verge of finalising a loan programme agreement with Ethiopia. Once this agreement is in place, it is expected to expedite the process of restructuring the country’s debt under the Common Framework.
She stated, ‘Policy discussions will continue, a
nd most likely, we will need another mission. We hope to have it in the next few weeks.’
Ethiopia’s efforts to secure debt relief from various creditors have taken a positive turn with China’s support. This cooperative approach aims to address Ethiopia’s debt burdens and pave the way for more sustainable economic stability in the nation.
(with Reuters)
