Monday, October 13, 2025
  • Who’sWho Africa AWARDS
  • About TimeAfrica Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » Private Creditors: Ethiopia hopes for desperately debt relief

Private Creditors: Ethiopia hopes for desperately debt relief

June 17, 2023
in News
0
FILE PHOTO: Ethiopian Prime Minister Abiy Ahmed arrives for the inauguration ceremony of the Meskel square, marking the last election rally he will hold in Addis Ababa, Ethiopia, June 13, 2021. REUTERS/Tiksa Negeri

FILE PHOTO: Ethiopian Prime Minister Abiy Ahmed arrives for the inauguration ceremony of the Meskel square, marking the last election rally he will hold in Addis Ababa, Ethiopia, June 13, 2021. REUTERS/Tiksa Negeri

541
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

ReadAlso

Ethiopia is becoming an unlikely leader in the electric vehicle revolution

Africa’s climate summit is fighting back against Trump’s fossil fuel agenda

Addis Ababa, ETHIOPIA — Ethiopia is pinning its hopes for desperately needed debt relief on a New York bill that could force private creditors like bondholders to give terms comparable to what governments offer in debt restructurings.

Addis Ababa owes more than USD 29 billion, including a USD one billion eurobond maturing in 2024. Finance Minister Ahmed Shide on last Thursday conceded debt restructuring efforts this year “didn’t go as planned.” Negotiating comparable relief from diverse creditors will be “our next task,” he said.

The new bill aims to streamline complex debt talks by coordinating private and government creditors. But analysts warn it risks spooking investors or spawning legal fights that derail negotiations.

Ethiopia seeks at least USD two billion from the International Monetary Fund (IMF) to fill a USD six billion funding gap through 2026. But the IMF said that “creditors’ assurances are required before Ethiopia’s debt restructuring request materializes.”

An analyst following Ethiopia’s debt woes said “This bill is good news. Private creditors’ role has been murky but it could now force comparable relief, unblocking a debt deal Ethiopia badly needs.”

Addis Ababa will scrutinize whether the bill helps secure relief it desperately requires to fund development and tackle humanitarian crises. But success hinges on assuaging concerns and navigating difficult negotiations with diverse creditors, the analyst said.

If workable solutions emerge that calm investors, the bill could unlock relief that eases Ethiopia’s crushing debt load, added the expert.

But with USD one billion in payments due soon, development goals on the line and a USD six billion financing gap to bridge, Ethiopia’s fate rests on a high-wire act aimed at securing meaningful relief without racking up still higher costs, the analyst remarked.

Ethiopia’s massive debt burden represents an increasingly urgent challenge for the country’s economy, with over half of all external obligations owed to multilate.

According to government data, Addis Ababa owes more than USD 14 billion to multilateral lenders as of September 2022. The World Bank accounts for the largest share at USD 11.2 billion or 75 percent of multilateral debts. The African Development Bank and IMF make up the rest.

In addition, Ethiopia faces significant debt obligations to private creditors totaling over USD four billion. This includes USD 2.9 billion owed to commercial banks, USD 1.1 billion due to suppliers and a USD one billion Eurobond.

ADVERTISEMENT
Tags: Debt ReliefEthiopiaPrivate Creditors
ADVERTISEMENT
Previous Post

Ethiopian Airlines’ cash stuck in currency deadlock with Nigeria, Eritrea

Next Post

Patrick Lumumba vexed by Poland’s Humiliation Of African Delegation En Route Russia

You MayAlso Like

News

Finally, Family Confirms Death of Rev. Dr. Uma Ukpai, Dies at 80

October 13, 2025
News

Madagascar President Declares Coup Attempt as Soldiers Join Protesters

October 13, 2025
News

AfDB, WFP and IFPRI launch innovative investment in food systems in Northern Nigeria

October 11, 2025
News

Rev. Fr. Edwin Obiorah Latest Lies, Manipulation of Tansian University Exposed

October 11, 2025
Built in 1998, the Azito Thermal Power Plant generates two thirds of the energy produced in Côte d’Ivoire. The Phase IV expansion project is currently underway to meet growing demand. © Erick Kaglan, World Bank
News

Japanese and Nigerian Firms to Oversee Major Upgrade of Côte d’Ivoire’s Power 

October 11, 2025
News

Expert Urges Africa to Fix, Not Abandon, the ICC

October 11, 2025
Next Post
Patrick Lumumba

Patrick Lumumba vexed by Poland’s Humiliation Of African Delegation En Route Russia

Cameroon, Niger, Benin citizens lament fuel subsidy removal in Nigeria

Discussion about this post

Kingdom in Crisis: Ogwashi-Uku Rejects Obi’s Land Grab, Villages Ready to Declare Autonomy

Finally, Family Confirms Death of Rev. Dr. Uma Ukpai, Dies at 80

Nigeria’s Anglican Church Rescinds Ties with Canterbury Amid Controversy Over ‘Pro-Gay’ Female Archbishop

Uche Nnaji, Minister of Innovation, Science, and Technology Resigns

APC Dissolves Enugu Executive, Appoints Caretaker Committee Ahead of Governor Mbah’s Anticipated Defection

Almost all heart attack victims have one of these four warning signs

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1242 shares
    Share 497 Tweet 311
  • Maids trafficked and sold to wealthy Saudis on black market

    1068 shares
    Share 427 Tweet 267
  • Flight Attendant Sees Late Husband On Plane

    974 shares
    Share 390 Tweet 244
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    905 shares
    Share 362 Tweet 226
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    736 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

AFCON ticket sales begin with Visa cardholders granted early access

October 13, 2025

Finally, Family Confirms Death of Rev. Dr. Uma Ukpai, Dies at 80

October 13, 2025

Opposition leader Patrick Herminie wins presidential runoff election in Seychelles

October 13, 2025

Madagascar President Declares Coup Attempt as Soldiers Join Protesters

October 13, 2025

ABOUT US

Time Africa Magazine

TIMEAFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIMEAFRICA MAGAZINE biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About TimeAfrica Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 TimeAfrica Magazine - All Right Reserved. TimeAfrica Magazine Ltd is published by Times Associates, registered Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 TimeAfrica Magazine - All Right Reserved. TimeAfrica Magazine Ltd is published by Times Associates, registered Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.