Ethiopia credit rating downgraded over missed payment

The Ethiopian government is currently in talks with creditors to restructure debt held in Eurobonds. The country has already reached an agreement with other creditors, including China, to secure $1.5 billion in debt relief.

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A man withdraws Ethiopian Birr from an ATM in Addis Ababa on December 4, 2023. (Photo by Michele Spatari / AFP)

By NewVision Reporter

Journalists @NewVision

#Ethiopia #Debt #Africa

Fitch announced on Wednesday that it downgraded Ethiopia's credit rating to "restricted default" after the African country missed a $33 million coupon payment.

The credit agency also cut the

Ethiopia credit rating downgraded over missed payment

The Ethiopian government is currently in talks with creditors to restructure debt held in Eurobonds. The country has already reached an agreement with other creditors, including China, to secure $1.5 billion in debt relief.

A man withdraws Ethiopian Birr from an ATM in Addis Ababa on December 4, 2023. (Photo by Michele Spatari / AFP)

By NewVision Reporter

Journalists @NewVision

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