Addis Ababa: French President Emmanuel Macron reiterated his strong support for Ethiopia’s ongoing debt restructuring efforts on Saturday, urging for a swift resolution “in the coming weeks”. Macron’s endorsement comes during his visit to Ethiopia, following a stop in Djibouti, and after Ethiopia reached a significant milestone in its financial recovery process.
Macron’s comments follow an agreement between Ethiopia and the International Monetary Fund (IMF) last month regarding the second review of a $3.4 billion financing program. This agreement is seen as a crucial step toward addressing Ethiopia’s financial challenges and stabilizing its economy.
Commitment to Reform and Financial Stability
During a joint press conference with Ethiopian Prime Minister Abiy Ahmed, Macron praised Ethiopia’s leadership and reforms, stating, “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.” His support highlights France’s commitment to assisting Ethiopia in overcoming its financial hurdles.
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Macron further emphasized that France is fully backing the discussions underway with the IMF and underscored the importance of an upcoming key meeting scheduled for mid-January. This meeting is expected to play a significant role in advancing Ethiopia’s efforts to restructure its debt and secure long-term economic stability.
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