UPDATE: IMF Encourages Formation of Ethiopia Creditor Committee

“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," the spokesperson for the International Monetary Fund Gerry Rice said in a media release. (Getty Images)

Reuters

The International Monetary Fund said on Tuesday it “strongly encourages the swift formation” of a creditor committee for Ethiopia to enable timely debt relief.

The formation of the committee will help Ethiopia “create fiscal space for development spending and lower the risk of debt distress rating to ‘moderate’ by reprofiling debt service obligations,” IMF spokesman Gerry Rice said in a statement.

Related:

IMF Urges Swift Formation of Creditor Committee for Ethiopia

Press Release

IMF

July 6, 2021

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.”

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