Ethiopia Fails to Pay Coupon, Becoming Latest African Defaulter - Bloomberg

[Gunnar Larson]

https://www.bloomberg.com/news/articles/2023-12-25/ethiopia-fails-to-pay-coupon-becoming-latest-african-defaulter


Ethiopia became Africa’s latest defaulter after it failed to make an
interest payment following the end of a grace period on Monday.
The Horn of Africa nation had to pay a $33 million coupon on Dec. 11. The
government didn’t want to make the payment because it “wants to treat all
creditors in the same way,” Ahmed Shide, Ethiopia’s minister of finance
said on state TV on Thursday.

Hinjat Shamil, senior reform advisor at the Ministry of Finance confirmed
Monday that the payment had not, and will not be paid. Ethiopia reached an
agreement with bilateral creditors last month to suspend debt payments.
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