Government Pursues Debt Relief Plan

Ethiopia is in talks with creditors to convert commercial loans into concessional debt to reduce repayment pressure, Prime Minister Abiy Ahmed told parliament. He said the country’s external debt now stands at under $23 billion, with new commercial borrowing halted. The government’s debt strategy focuses on restructuring through the G-20 Common Framework, having already restructured about $4.5 billion under ongoing macroeconomic reforms.