Ethiopia takes 'crucial step' in debt restructuring plan

Ethiopia's Prime Minister Abiy Ahmed

In this file photo taken on April 2, 2018 Abiy Ahmed, newly elected Prime Minister of Ethiopia, addresses the house of Parliament in Addis Ababa, after the swearing-in ceremony. 

Photo credit: Zacharias Abubeker | Pool | AFP

What you need to know:

  • Besides the Covid-19 pandemic, the bloody civil war in Ethiopia’s northern Tigray region is crippling the economy of Africa's second most populous nation.

Ethiopia has welcomed what it terms a crucial step in its efforts towards debt restructuring under the G20 Common Framework.

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