A spokesperson for the International Monetary Fund said on Thursday that the IMF is in talks with Ethiopian authorities and that any new program would require financial assurances from creditors.
At a press conference, IMF spokesperson Julie Kozack said the organization “welcomed” the East African country’s efforts to restore lasting peace and its “homegrown economic reform agenda.”
She went on to say that any new IMF program with Africa’s second-most populous country “would require clear commitments from development partners and financing assurances from creditors under the G20 Common Framework.”
In early 2021, Ethiopia submitted a request for debt restructuring through the Group of Twenty’s Common Framework, a program for renegotiating sovereign debt that prioritizes low-income countries.
The civil war that broke out in November 2020 and lasted for two years slowed development.
Last month, Ethiopia discussed borrowing at least $2 billion from the IMF.
