Reuters reported last month that Ethiopia was
in talks
to borrow at least $2 billion from the IMF.
(Reporting by David Lawder and Rodrigo Campos; Editing by Paul
Simao)
(Adds IMF program context in paragraphs 4-5)
WASHINGTON, May 11 (Reuters) - The International
Monetary Fund is in discussions with Ethiopian authorities, and
any new program would require creditors' financial assurances, a
spokeswoman for the global lender said on Thursday.
The IMF "welcomed" the progress toward restoring lasting
peace in the East African country as well as the authorities'
"homegrown economic reform agenda," spokeswoman Julie Kozack
said in a press conference.
She added that any new program between the IMF and the
Africa's second-most populous country "would require clear
commitments from development partners and financing assurances
from creditors under the G20 Common Framework."
Ethiopia requested in early 2021 a debt rework under the
Group of 20's Common Framework, an initiative for restructuring
government debt aimed at low-income countries. Progress was
complicated by a two-year civil war that broke out in November
2020.
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