Ethiopia’s official creditors have granted financing assurances to the country to help fast-track approval of a new loan by the International Monetary Fund’s executive board, according to people familiar with the matter.
Members of an official creditor committee held a meeting last week to approve the financing assurances, according to two of the people, who asked not to be named because the talks are private. Financing assurances mean that bilateral creditors such as the Paris Club and China provided certainty that they will restructure their loans to Ethiopia in a way that’s consistent with the fund’s program.