Ethiopia, Creditors Agree on $8.4 Billion Debt Restructuring (2)

Ethiopia has reached a deal with its official creditors to restructure $8.4 billion of international debt, a key milestone in the nation’s efforts to overhaul its loans and boost growth.

The agreement with bilateral lenders under the G20 Common Framework, backed by an International Monetary Fund program, will slash debt service by $2.5 billion through 2028, its finance ministry said on Friday, without giving details of the terms. The deal will allow the country to spend more on “critical public investments,” the ministry said in a statement.

The pact with the official creditors led by China and France paves the ...