Ethiopia's Bond Talks Stall Amid Disputes Over Debt Terms
Ethiopia's efforts to restructure its sovereign debt have hit a roadblock after negotiations with private bondholders ended without agreement.
The government stated that differences over key financial terms led to the breakdown, though "substantial progress" was made and talks could resume soon.
Ethiopia defaulted on its $1 billion Eurobond in late 2023 after seeking relief under the G20's Common Framework.
- Bondholders, including major investment firms such as Morgan Stanley Investment Management and Franklin Templeton, offered a 15 percent reduction in principal.
- A value-recovery mechanism linked to Ethiopia's export performance was also proposed.
Substantial progress was made
Author's summary: Ethiopia's bond talks stalled due to disputes over debt terms.
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