Ethiopia has reached a preliminary agreement with a group of international bondholders regarding the restructuring of its one billion dollar Eurobond that is set to mature in 2024, according to an announcement from the Ministry of Finance. In a statement released on January 2, 2026, the Ministry indicated that discussions took place between December 23 and January 1 with an Ad Hoc Committee representing institutional investors who control over 45pc of Ethiopia’s 6.625pc Notes due in 2024. The talks focused on restructuring the overdue bond and alleviating the country’s external debt burden. The negotiations were conducted during a restricted period and involved legal and financial advisers from both parties. Ethiopia received guidance from White & Case LLP and Lazard, while the bondholders were represented by Weil, Gotshal & Manges (London) LLP and Ankura Sovereign Advisors LLP. The Ministry announced that discussions led to an agreement in principle on the essential financial terms of the restructuring. The government stated that these proposed terms align with the objectives of Ethiopia's ongoing International Monetary Fund (IMF) program and adhere to the comparability of treatment principle established by the country's Official Creditor Committee.

[ssba-buttons]