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Ethiopia Only Pending Eurobond Exchange Case in World Bank Debt Report

The Reporter Magazine · 2 hours ago · Read the Full Story on The Reporter Magazine
Ethiopia Only Pending Eurobond Exchange Case in World Bank Debt Report
AI SUMMARY

Ethiopia is the sole country among six tracked sovereign debt restructuring cases whose bond exchange remains pending, according to a recent World Bank report.

  • Ethiopia remains the only country among six sovereign debt-restructuring cases tracked in the World Bank’s Global Sovereign Debt Roundtable report with a pending bond exchange.
  • Most debt-restructuring cases initiated in 2021 and 2022 are largely completed, though residual commercial creditor negotiations continue.
  • The report covers Ethiopia, Ghana, and Zambia under the G20 Common Framework, while Sri Lanka and Suriname are tracked outside the framework alongside Chad.
  • Ethiopia has finalized 11 of 14 bilateral agreements with official bilateral creditors in the Official Creditor Committee.
  • Ethiopia reached an agreement in principle with the Ad Hoc Committee of Eurobond holders on June 29, 2026.
  • Ethiopian authorities announced on August 21 that the Official Creditor Committee determined the Eurobond restructuring terms were consistent with comparability-of-treatment requirements.
  • The agreements with bondholders and other creditors cover approximately 75 percent of Ethiopia’s total external commercial debt.
  • Ethiopia completed the fifth review of its IMF-supported programme in July 2026.
  • Ethiopia's credit ratings remain at Caa3 from Moody’s, SD from S&P, and RD from Fitch as of March 19, 2026.
  • The World Bank has committed close to 16 billion US dollars to Ethiopia since fiscal year 2021, with net flows exceeding 17.3 billion US dollars.
Read the Full Story on The Reporter Magazine
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