IMF Urges Swift Formation of Creditor Committee for Ethiopia

Washington, DC: The following statement on Ethiopia was issued today by Gerry Rice, spokesperson for the International Monetary Fund:

“The IMF strongly encourages the swift formation of the creditor committee for Ethiopia to enable the timely delivery of the debt operation that Ethiopia is requesting.

“Ethiopia requested in February to G20 and Paris Club creditors to benefit from a debt operation under the G20 “Common Framework.” The authorities’ aim is to create fiscal space for development spending and lower the risk of debt distress rating to moderate by reprofiling debt service obligations. The formation of the committee will help Ethiopia in this regard.”

Source: IMF