Will Ethiopia restructure its debt obligations to China in 2024?
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Ethiopia is heavily indebted, with external debt reaching 33% of GDP in 2022. China, Ethiopia's largest bilateral creditor, agreed to a debt suspension for the fiscal year ending July 7, 2024. Ethiopia reached an agreement with other official bilateral creditors to postpone debt service payments until 2025, contingent on securing an IMF loan by March 31, 2024.
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