Economy

France’s Macron backs Ethiopia’s debt restructuring efforts

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ADDIS ABABA (Reuters) – French President Emmanuel Macron expressed full support on Saturday for Ethiopia’s debt restructuring efforts, emphasising the need for a swift resolution “in the coming weeks”.

The backing from Macron, who is visiting Ethiopia after a stop in Djibouti, comes after Ethiopia and International Monetary Fund reached an agreement last month on the second review of a $3.4 billion financing programme.

“Thanks to your commitment to the reform programme you are leading, we aim to complete the restructuring of this 3 billion-euro debt in the next few weeks,” Macron said during a joint press conference with Ethiopian Prime Minister Abiy Ahmed.

He added that France fully supports the discussions underway with the IMF, highlighting a key meeting scheduled for mid-January.

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