, the International Monetary Fund’s deputy director for Africa said on Friday.under the Group of 20’s Common Framework, an initiative for restructuring government debt aimed at low-income countries, and has also been seeking an IMF loan.
“The Chinese authorities have already provided debt relief to Ethiopia and we understand that they’re in the process of requesting a similar treatment from other creditors. So this is very encouraging,” Annalisa Fedelino said in comments to reporters at the IMF’s annual meetings in Marrakech, Morocco.
“Policy discussions will continue and most likely we will need another mission, … we hope to have it in the next few weeks,” she said.Ethiopia’s external debt totalled $28.2 billion at the end of March, according to government data. Ethiopia regularly suffers from foreign exchange shortages and a wide gap between the official and black market currency exchange rates.