Ethiopia Signs $3.5 Billion Debt Restructure With OCC Group

Ethiopia agreed a memorandum of understanding to restructure its loans with official creditors, formalizing a debt treatment plan offering relief for more than $3.5 billion.

The deal with official creditors led by China and France will boost efforts for agreements with private creditors, according to the finance ministry. Ethiopia defaulted on a $1 billion eurobond a year before its December 2024 maturity.