Ethiopian High Level Delegation Participates At Global Sovereign Debt Roundtable

Addis Ababa, october 25/2024 (ENA)  The Ethiopian government high level delegation attending the 2024 annual meetings of the International Monetary Fund (IMF) and the World Bank has participated at the Global Sovereign Debt Roundtable.

The Global Sovereign Debt Roundtable was jointly led by IMF Managing Director Kristalina Georgieva, WB President, Ajay Banga and the current chairman of the Group-20, Minister of Finance of Brazil, Fernando Haddad.

During the meeting, Ethiopia’s Finance State Minister, Eyob Tekaligne shared Ethiopia's experience regarding debt relief.

He also emphasized that it is important for countries to get temporary debt relief in recognition of their good efforts to repay their debts.

The State Minister has presented a new proposal to establish a procedure to complete the debt restructuring process within six months following the approval of the International Monetary Fund's programs.   

The participants of the meeting also agreed on the importance of the effectiveness, reliability and schedule of the debt restructuring process.

The Global Sovereign Debt Roundtable (GSDR) brings together debtor countries and creditors. 

The objective is to build greater common understanding among key stakeholders on debt sustainability and debt restructuring challenges, and ways to address them.

The roundtable is co-chaired by the IMF, World Bank and G20 Presidency (currently Brazil) and comprises official bilateral creditors (both traditional creditors’ members of the Paris Club and new creditors), private creditors and borrowing countries.