Ethiopia Opens Eurobond Talks in Paris

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Ethiopia began formal talks in Paris with investors to restructure its $1 billion Eurobond, which defaulted in 2023. The move follows a July deal with bilateral creditors that secured $3.5 billion in relief. Ethiopia proposed a 20% haircut, citing debt sustainability concerns, while bondholders argued the issue is liquidity. The bond gained 2.6 cents to 94.88 cents on the dollar after news of the talks.