Ethiopia concludes MoU with its official creditor committee under G20 Common Framework

Addis Ababa, July 2, 2025 (FMC) – Ethiopia’s Ministry of Finance announced the conclusion of an agreement on a Memorandum of Understanding (MoU) with its Official Creditor Committee (#OCC), formalizing the debt treatment agreed in principle in March 2025, offering a relief of over 3.5 billion USD.

The agreement represents an important milestone in Ethiopia’s journey towards achieving long-term public debt sustainability and brings to a successful conclusion years long negotiation process.

Ethiopia extended its heartfelt gratitude to all members of the OCC, particularly to the committee’s co-chairs, China and France, for their steadfast support and collaboration in facilitating Ethiopia’s debt treatment endeavors.

Following the signing of this MoU, its terms will be implemented through bilateral agreements with each member of the OCC.

Ethiopia’s Finance State Minister, Eyob Tekalign Tolina, issued the following statement: “Ethiopia remains confident that the collaborative and pragmatic spirit that has prevailed so far will help expedite the process of finalizing bilateral agreements.

Ethiopia continues to engage in good faith with all its other participating external creditors and seeks to conclude restructuring agreements on terms compatible with the country’s need for debt relief and the comparability of treatment principle.”

Ethiopian Government is hopeful that the formalization of its debt treatment with the OCC will further bolster Ethiopia’s efforts to reach agreement with participating external creditors, including its bondholders, Eyob added.