1 2 3<!DOCTYPE html> 4<html lang="en"> 5 <head> 6 <!-- Required meta tags --> 7 <meta http-equiv="content-type" content="text/html; charset=utf-8" /> 8 <meta name="viewport" content="width=device-width, initial-scale=1, user-scalable=no" /> 9 <meta http-equiv="X-UA-Compatible" content="ie=edge"> 10 <link rel="shortcut icon" href="/static/img/favicon.png" /> 11 <title>Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuring</title> 12 13 <!-- Bootstrap 14 <link rel="stylesheet" type="text/css" href="/static/assets/css/bootstrap.min.css"> 15 CSS --> 16 <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/[email protected]/dist/css/bootstrap.min.css" 17 integrity="sha384-MCw98/SFnGE8fJT3GXwEOngsV7Zt27NXFoaoApmYm81iuXoPkFOJwJ8ERdknLPMO" crossorigin= "anonymous"> 18 19 <link rel='stylesheet' href="/static/assets/css/new.css" type='text/css'/> 20 <!-- Fonts --> 21 <link rel="stylesheet" type="text/css" href="/static/assets/fonts/lineicons.css"> 22 <!-- Slicknav --> 23 <link rel="stylesheet" type="text/css" href="/static/assets/css/slicknav.css"> 24 25 <!-- Range Slider --> 26 <link rel="stylesheet" type="text/css" href="/static/assets/css/ion.rangeSlider.css"> 27 <!-- Range Slider --> 28 <link rel="stylesheet" type="text/css" href="/static/assets/css/ion.rangeSlider.skinFlat.css"> 29 <!-- Nivo Lightbox --> 30 <link rel="stylesheet" type="text/css" href="/static/assets/css/nivo-lightbox.css" > 31 <!-- Animate --> 32 <link rel="stylesheet" type="text/css" href="/static/assets/css/animate.css"> 33 <!-- Owl carousel --> 34 <link rel="stylesheet" type="text/css" href="/static/assets/css/owl.carousel.css"> 35 <!-- Rav Slider --> 36 <link rel="stylesheet" type="text/css" href="/static/assets/extras/settings.css"> 37 <link rel="stylesheet" type="text/css" href="/static/assets/extras/layers.css"> 38 <link rel="stylesheet" type="text/css" href="/static/assets/extras/navigation.css"> 39 40 41 <link rel="stylesheet" type="text/css" href="/static/assets/css/main.css"> <!-- te main css line //reviewed on 15/11/2023 fixed by Wesagn, Simon and Sisay --> 42 43 44 <!-- Responsive Style --> 45 <link rel="stylesheet" type="text/css" href="/static/assets/css/responsive.css"> 46 <link rel="stylesheet" type="text/css" href="/static/css/jquery.countdown.css"> 47 48 49 50 51
51<script src="/static/assets/js/jquery-min.js"></script>
51 52 53
53<script src="/static/js/jquery.plugin.js"></script>
53 54
54<script src="/static/js/jquery.countdown.js"></script>
54 55 56 57 </head> 58 <body> 59 60 <!-- Header Area wrapper Starts --> 61 <header id="header-wrap"> 62 <!-- Start Top Bar --> 63 <div class="top-bar"> 64 <div class="container"> 65 <div class="row align-items-center"> 66 <div class="col-lg-6 col-md-6 col-xs-12"> 67 <div class="row align-items-center"> 68 <!-- Start Contact Info --> 69 <img src="/static/assets/img/ethfalg.png" height="20px" > 70 71 <div class="ministry-name"> 72 <h4>FDRE, Ministry of Finance </h4> 73 74 </div> 75 </div> 76 <!-- End Contact Info --> 77 </div> 78 79 80 <div class="col-lg-6 col-md-6 col-xs-12 "> 81 <div class="roof-social float-right"> 82 <a class="facebook" href="https://www.facebook.com/MoFEthiopia" target="new"><i class="lni lni-facebook-filled"></i></a> 83 <a class="twitter" href="https://twitter.com/MoF_Ethiopia" target="new"><i class="lni lni-twitter-original"></i></a> 84 <a class="youtube" href="https://www.youtube.com/channel/UCZdMnp22u5BJ6n1wfyLpKNQ/videos" target="new"><i class="lni lni-youtube"></i></a> 85 <a class="linkedin" href="https://www.linkedin.com/company/ministry-of-finance-ethiopia" target="new"><i class="lni lni-linkedin-original"></i></a> 86 <a class="telegram" href="https://t.me/ministry_of_finance" target="new"><i class="lni lni-telegram-original"></i></a> 87 <a class="telegram" href="https://vm.tiktok.com/ZMkD9mpSh/" target="new"><i class="lni lni-tiktok"></i></a> 88 89 90 </div><br /><br /> 91 92 </div> 93 94 </div> 95 </div> 96 <!-- End Top Bar --> 97 98 <!-- Navbar Start --> 99 <nav class="navbar navbar-expand-lg navbar-light bg-white" data-toggle="sticky-onscroll"> 100 <div class="container"> 101 <!-- Brand and toggle get grouped for better mobile display --> 102 <div class="navbar-header"> 103 <button class="navbar-toggler" type="button" data-toggle="collapse" data-target="#main-navbar" aria-controls="main-navbar" aria-expanded="false" aria-label="Toggle navigation"> 104 <span class="navbar-toggler-icon"></span> 105 <span class="lin-menu"></span> 106 </button> 107 <a class="navbar-brand" href="/"><img src="/static/assets/img/mof.png" alt=""></a> 108 </div> 109 110 <div class="collapse navbar-collapse" id="main-navbar"> 111 <ul class="navbar-nav mr-auto w-100 justify-content-left"> 112 113 114 115 <ul class="navbar-nav mr-auto w-100 justify-content-left"> 116 117 118 <li class="nav-item "> 119 <a class="nav-link" href="/"> 120 Home 121 </a> 122 </li> 123 124 125 126 <li class="nav-item dropdown icon-dropdown "> 127 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-6" href="/ministry-en/"> 128 The Ministry 129 </a> 130 <div class="dropdown-menu" aria-labelledby="dropdown-6"> 131 132 <a class="dropdown-item" href="/ministry-en/about-ministry/"> 133 About Us 134 </a> 135 136 <a class="dropdown-item" href="/ministry-en/our-structure/"> 137 Our Structure 138 </a> 139 140 <a class="dropdown-item" href="/ministry-en/directorates/"> 141 Our Directorates 142 </a> 143 144 <a class="dropdown-item" href="/ministry-en/aboutus/"> 145 áµá á¥á 146 </a> 147 148 <a class="dropdown-item" href="/ministry-en/message-of-minister/"> 149 á¨áá¡á á¨áááµáµá© áááááµ 150 </a> 151 152 <a class="dropdown-item" href="/ministry-en/organzizational-structure/"> 153 á¨áááµá´á© ááá á 154 </a> 155 156 <a class="dropdown-item" href="/ministry-en/minister-bio/"> 157 á¨áááµáµá© á¨á áááµ á³áªá 158 </a> 159 160 </div> 161 </li> 162 163 164 165 <li class="nav-item dropdown icon-dropdown "> 166 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-276" href="/ministers/"> 167 Ministers 168 </a> 169 <div class="dropdown-menu" aria-labelledby="dropdown-276"> 170 171 <a class="dropdown-item" href="/ministers/minister/"> 172 The Minister 173 </a> 174 175 <a class="dropdown-item" href="/ministers/state-minister-of-fiscal-policy-and-public-finance/"> 176 State Minister of Fiscal Policy and Public Finance 177 </a> 178 179 <a class="dropdown-item" href="/ministers/state-minister-of-finance-for-economic-cooperation/"> 180 State Minister of Finance for Economic Cooperation 181 </a> 182 183 </div> 184 </li> 185 186 187 188 <li class="nav-item dropdown icon-dropdown "> 189 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-186" href="/programmes-projects/"> 190 Program & Projects 191 </a> 192 <div class="dropdown-menu" aria-labelledby="dropdown-186"> 193 194 <a class="dropdown-item" href="/programmes-projects/crge-facility/"> 195 CRGE 196 </a> 197 198 <a class="dropdown-item" href="/programmes-projects/ppp/"> 199 PPP 200 </a> 201 202 <a class="dropdown-item" href="/programmes-projects/ifmis/"> 203 IFMIS 204 </a> 205 206 <a class="dropdown-item" href="/programmes-projects/fta/"> 207 FTA 208 </a> 209 210 <a class="dropdown-item" href="/programmes-projects/channel-one-program-coordinating-directorate/"> 211 Channel One Program 212 </a> 213 214 </div> 215 </li> 216 217 218 219 <li class="nav-item dropdown icon-dropdown "> 220 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-7" href="/resources/"> 221 Resources 222 </a> 223 <div class="dropdown-menu" aria-labelledby="dropdown-7"> 224 225 <a class="dropdown-item" href="/resources/consolidated-tax-laws/"> 226 Consolidated Tax Laws 227 </a> 228 229 <a class="dropdown-item" href="/resources/fta-resource/"> 230 FTA Resources 231 </a> 232 233 <a class="dropdown-item" href="/resources/directorate-resource/"> 234 Directorates Resources 235 </a> 236 237 <a class="dropdown-item" href="/resources/budget/"> 238 Budget 239 </a> 240 241 <a class="dropdown-item" href="/resources/bulletin/"> 242 Debt Bulletin 243 </a> 244 245 <a class="dropdown-item" href="/resources/tax-policy/"> 246 Tax Policy 247 </a> 248 249 <a class="dropdown-item" href="/resources/response-recovery-resilience-for-conflict-affected-communities-in-ethiopia/"> 250 3R Resources 251 </a> 252 253 <a class="dropdown-item" href="/resources/government-account/"> 254 Government Account 255 </a> 256 257 </div> 258 </li> 259 260 261 262 <li class="nav-item dropdown icon-dropdown "> 263 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-295" href="/mof-directive/"> 264 MOF Directive 265 </a> 266 <div class="dropdown-menu" aria-labelledby="dropdown-295"> 267 268 <a class="dropdown-item" href="/mof-directive/customs-directive/"> 269 Customs Directive 270 </a> 271 272 <a class="dropdown-item" href="/mof-directive/financial-a
272dministration/"> 273 Financial Administration 274 </a> 275 276 <a class="dropdown-item" href="/mof-directive/investment-incentive/"> 277 Investment Incentive 278 </a> 279 280 <a class="dropdown-item" href="/mof-directive/ppp/"> 281 PPP 282 </a> 283 284 <a class="dropdown-item" href="/mof-directive/public-procurement/"> 285 Public Procurement 286 </a> 287 288 <a class="dropdown-item" href="/mof-directive/tax-directive/"> 289 TAX Directive 290 </a> 291 292 <a class="dropdown-item" href="/mof-directive/circular/"> 293 Circular 294 </a> 295 296 </div> 297 </li> 298 299 300 301 <li class="nav-item dropdown icon-dropdown "> 302 <a class="nav-link dropdown-toggle" data-toggle="dropdown" id="dropdown-21" href="/press-media/"> 303 Press & Media 304 </a> 305 <div class="dropdown-menu" aria-labelledby="dropdown-21"> 306 307 <a class="dropdown-item" href="/press-media/news/"> 308 News 309 </a> 310 311 <a class="dropdown-item" href="/press-media/photo-news/"> 312 Photo News 313 </a> 314 315 <a class="dropdown-item" href="/press-media/press-release/"> 316 Press Release 317 </a> 318 319 <a class="dropdown-item" href="/press-media/magazine/"> 320 Magazine 321 </a> 322 323 <a class="dropdown-item" href="/press-media/photo-gallery/"> 324 Photo Gallery 325 </a> 326 327 <a class="dropdown-item" href="/press-media/video/"> 328 Video 329 </a> 330 331 <a class="dropdown-item" href="/press-media/archive/"> 332 Archive 333 </a> 334 335 </div> 336 </li> 337 338 339 340 <li class="nav-item "> 341 <a class="nav-link" href="/photo-news/"> 342 Contact Us 343 </a> 344 </li> 345 346 347 348 <li class="nav-item "> 349 <a class="nav-link" href="/sitemap/"> 350 Site Map 351 </a> 352 </li> 353 354 355 </ul> 356 357 358 </ul> 359 360 </div> 361 362 <a class="nav-link search_box" href="#" aria-label="Search" data-toggle="modal" 363 data-target="#site-search" title="Search"> 364 <i class="lni lni-search"></i> Search</a> 365 366 </div> 367 368 <!-- Mobile Menu Start --> 369 <ul class="mobile-menu"> 370 371 372 373 374 <li class=""> 375 <a 376 class="nav-link" 377 378 href="/" 379 380 > 381 Home 382 </a> 383 384 </li> 385 386 <li class=""> 387 <a 388 class="nav-link dropdown-toggle" 389 390 data-toggle="dropdown" 391 id="dropdown-the-ministry" 392 href="#" 393 394 > 395 The Ministry 396 </a> 397 398 399 <ul class="dropdown"> 400 401 402 403 <li> 404 <a href="/ministry-en/about-ministry/"> 405 About Us 406 </a> 407 </li> 408 409 <li> 410 <a href="/ministry-en/our-structure/"> 411 Our Structure 412 </a> 413 </li> 414 415 <li> 416 <a href="/ministry-en/directorates/"> 417 Our Directorates 418 </a> 419 </li> 420 421 <li> 422 <a href="/ministry-en/aboutus/"> 423 áµá á¥á 424 </a> 425 </li> 426 427 <li> 428 <a href="/ministry-en/message-of-minister/"> 429 á¨áá¡á á¨áááµáµá© áááááµ 430 </a> 431 </li> 432 433 <li> 434 <a href="/ministry-en/organzizational-structure/"> 435 á¨áááµá´á© ááá á 436 </a> 437 </li> 438 439 <li> 440 <a href="/ministry-en/minister-bio/"> 441 á¨áááµáµá© á¨á áááµ á³áªá 442 </a> 443 </li> 444 445 446 447 </ul> 448 449 450 </li> 451 452 <li class=""> 453 <a 454 class="nav-link dropdown-toggle" 455 456 data-toggle="dropdown" 457 id="dropdown-ministers" 458 href="#" 459 460 > 461 Ministers 462 </a> 463 464 465 <ul class="dropdown"> 466 467 468 469 <li> 470 <a href="/ministers/minister/"> 471 The Minister 472 </a> 473 </li> 474 475 <li> 476 <a href="/ministers/state-minister-of-fiscal-policy-and-public-finance/"> 477 State Minister of Fiscal Policy and Public Finance 478 </a> 479 </li> 480 481 <li> 482 <a href="/ministers/state-minister-of-finance-for-economic-cooperation/"> 483 State Minister of Finance for Economic Cooperation 484 </a> 485 </li> 486 487 488 489 </ul> 490 491 492 </li> 493 494 <li class=""> 495 <a 496 class="nav-link dropdown-toggle" 497 498 data-toggle="dropdown" 499 id="dropdown-program-projects" 500 href="#" 501 502 > 503 Program & Projects 504 </a> 505 506 507 <ul class="dropdown"> 508 509 510 511 <li> 512 <a href="/programmes-projects/crge-facility/"> 513 CRGE 514 </a> 515 </li> 516 517 <li> 518 <a href="/programmes-projects/ppp/"> 519 PPP 520 </a> 521 </li> 522 523 <li> 524 <a href="/programmes-projects/ifmis/"> 525 IFMIS 526 </a> 527 </li> 528 529 <li> 530 <a href="/programmes-projects/fta/"> 531 FTA 532 </a> 533 </li> 534 535 <li> 536 <a href="/ministry-en/directorates/channel-one-program-coordinating-unitcopcu/"> 537 Channel One Program 538 </a> 539 </li> 540 541 542 543 </ul> 544 545 546 </li> 547 548 <li class=""> 549 <a 550 class="nav-link dropdown-toggle" 551 552 data-toggle="dropdown" 553 id="dropdown-resources" 554 href="#" 555 556 > 557 Resources 558 </a> 559 560 561 <ul class="dropdown"> 562 563 564 565 <li> 566 <a href="https://ethiopia.mylexisnexis.co.za/"> 567 Consolidated Tax Laws 568 </a> 569 </li> 570 571 <li> 572 <a href="/resources/fta-resource/"> 573 FTA Resources 574 </a> 575 </li> 576 577 <li> 578 <a href="/resources/directorate-resource/"> 579 Directorates Resources 580 </a> 581 </li> 582 583 <li> 584 <a href="/resources/directorate-resource/international-financial-institutions-co-operation-directorate/"> 585 International Financial Institutions Co-operation Directorate 586 </a> 587 </li> 588 589 <li> 590 <a href="/resources/directorate-resource/hr/"> 591 HR 592 </a> 593 </li> 594 595 <li> 596 <a href="/resources/budget/"> 597 Budget 598 </a> 599 </li> 600 601 <li> 602 <a href="/resources/bulletin/"> 603 Debt Bulletin 604 </a> 605 </li> 606 607 <li> 608 <a href="/resources/tax-policy/"> 609 Tax Policy 610 </a> 611 </li> 612 613 <li> 614 <a href="/resources/response-recovery-resilience-for-conflict-affected-communities-in-ethiopia/"> 615 3R Resources 616 </a> 617 </li> 618 619 <li> 620 <a href="/resources/government-account/"> 621 Government Account 622 </a> 623 </li> 624 625 626 627 </ul> 628 629 630 </li> 631 632 <li class=""> 633 <a 634 class="nav-link dropdown-toggle" 635 636 data-toggle="dropdown" 637 id="dropdown-mof-directive" 638 href="#" 639 640 > 641 MOF Directive 642 </a> 643 644 645 <ul class="dropdown"> 646 647 648 649 <li> 650 <a href="/mof-directive/customs-directive/"> 651 Customs Directive 652 </a> 653 </li> 654 655 <li>
656 <a href="/mof-directive/financial-administration/"> 657 Financial Administration 658 </a> 659 </li> 660 661 <li> 662 <a href="/mof-directive/investment-incentive/"> 663 Investment Incentive 664 </a> 665 </li> 666 667 <li> 668 <a href="/mof-directive/ppp/"> 669 PPP 670 </a> 671 </li> 672 673 <li> 674 <a href="/mof-directive/public-procurement/"> 675 Public Procurement 676 </a> 677 </li> 678 679 <li> 680 <a href="/mof-directive/tax-directive/"> 681 TAX Directive 682 </a> 683 </li> 684 685 <li> 686 <a href="/mof-directive/circular/"> 687 Circular 688 </a> 689 </li> 690 691 692 693 </ul> 694 695 696 </li> 697 698 <li class=""> 699 <a 700 class="nav-link dropdown-toggle" 701 702 data-toggle="dropdown" 703 id="dropdown-press-media" 704 href="#" 705 706 > 707 Press & Media 708 </a> 709 710 711 <ul class="dropdown"> 712 713 714 715 <li> 716 <a href="/press-media/news/"> 717 News 718 </a> 719 </li> 720 721 <li> 722 <a href="/blogphoto"> 723 Photo News 724 </a> 725 </li> 726 727 <li> 728 <a href="/press-media/press-release/"> 729 Press Release 730 </a> 731 </li> 732 733 <li> 734 <a href="/press-media/magazine/"> 735 Magazine 736 </a> 737 </li> 738 739 <li> 740 <a href="/press-media/photo-gallery/"> 741 Photo Gallery 742 </a> 743 </li> 744 745 <li> 746 <a href="/press-media/video/"> 747 Video 748 </a> 749 </li> 750 751 <li> 752 <a href="/press-media/archive/"> 753 Archive 754 </a> 755 </li> 756 757 758 759 </ul> 760 761 762 </li> 763 764 <li class=""> 765 <a 766 class="nav-link" 767 768 href="/feedback" 769 770 > 771 Contact Us 772 </a> 773 774 </li> 775 776 <li class=""> 777 <a 778 class="nav-link" 779 780 href="/sitemap/" 781 782 > 783 Site Map 784 </a> 785 786 </li> 787 788 789 790 791 </ul> 792 <!-- Mobile Menu End --> 793 </nav> 794 <!-- Navbar End --> 795 <div class="clearfix"></div> 796 </header> 797 <div class="container nav"> 798 799<li> 800 801 <a href="/">Home</a> <span class="separator">»</span> 802 803</li> 804 805<li> 806 807 <span class="active">Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuring</span> 808 809</li> 810 811</div> 812 <!-- Header Area wrapper End --> 813 814 815<div class="app app-blog"> 816 <div id="blog" class="section-padding"><div class="container"><div class="row"><div class="col-lg-8 col-md-12 col-xs-12"><div class="blog-post single-post"><div class="content"><article id="post-ethiopia-announces-favourable-comparability-of-treatment-assessment-of-official-creditor-committee-regarding-agreed-terms-of-eurobond-restructuring" class="post-item post-detail"><h2 style="font-weight:400 !important">Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuring</h2><strong>Published:</strong><span> Aug. 21, 2026</span> 817 818 819 <div class="blog-content" style="margin-bottom: 3rem;"> 820 <p>Â </p> 821 822<p> 823 824 825 826 827 828 829 830 831<img src="/media/filer_public_thumbnails/filer_public/39/1a/391aaaf1-a520-45df-8993-5c90a48166cf/logo.png__516x520_q85_subsampling-2.png" 832 alt="" 833 834 835 836 class="img-fluid" 837> 838 839 840 841 842 843 844 845 846</p> 847 848<p><br> 849Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuring<br> 850Addis Ababa â 20 August 2026. The Ministry of Finance (âMoFâ) of the Federal Democratic Republic of Ethiopia (âEthiopiaâ) announces that, following the agreement in principle (âAIPâ) on restructuring terms reached on 29 June 2026 with a group of holders (the âAd Hoc Committeeâ) of its US$ 1 billion 6.625% Notes due 2024 (ISIN US29766LAA44) (the â2024 Notesâ), Ethiopia and its advisors consulted with the countryâs Official Creditor Committee (the âOCCâ) to establish the consistency of the AIP with the Comparability of Treatment principle as applied by the OCC.</p> 851 852<p><br>
853Following a period of careful consideration, the OCC, through its Co-Chairs, has informed Ethiopia that it considers the AIP at this stage to be compliant with the Comparability of Treatment principle.</p> 854 855<p>The OCC communicated this conclusion to Ethiopia in a formal letter, attached as Annex A.<br> 856In light of this assessment, Ethiopia is in a position to proceed with implementation of the Eurobond restructuring terms outlined in the AIP.<br> 857Ethiopia welcomes the OCCâs assessment and the constructive engagement of the Ad Hoc Committee that made this outcome possible.<br> 858Implementation of the restructuring of the 2024 Notes will occur once the non-financial terms of the exchange of the new bonds to be issued and other documentation have been finalised with the Ad Hoc Committee and its advisers.<br> 859This press release does not constitute an offer of securities for sale or solicitation of an offer to buy any securities in the United States for purposes of the U.S. Securities Act of 1933, as amended.</p> 860 861<p>Annex A<br> 862The Co-Chairs<br> 863of the Official Creditor Committee of Ethiopia<br> 86431 July 2026</p> 865 866<p><br> 867Subject: Assessment of the comparability of treatment by the Official Creditor Committeea (OCC)<br> 868Dear Minister,</p> 869 870<p><br> 871The Official Creditor Committee (OCC) has provided steadfast and coordinated support throughout Ethiopiaâs debt restructuring process under the G20 Common Framework. Recognizing the significant challenges faced by the country, official creditors have taken joint action and made substantial financial efforts to facilitate the resumption of Ethiopiaâs economic growth and the successful implementation of its IMF programme. Their commitment has been instrumental in creating the conditions for a sustainable debt treatment, ensuring that Ethiopia can regain financial stability while maintaining its development trajectory. This collective effort underscores the commitment of the international community to stand by Ethiopia in this critical period.</p> 872 873<p><br> 874We take pride in this support, which also comes with a responsibility towards the taxpayers in our respective jurisdictions. In this regard, comparability of treatment is a fundamental principle underlying the debt treatments provided by the Common Frameworkâs OCCs. It ensures that the efforts undertaken by the OCC in support of the launch and implementation of the IMF program do not in effect subsidize other creditors seeking to reap the benefits from the financial assistance provided by the international community. In line with this principle, all creditors are expected to contribute fairly to restoring Ethiopiaâs financial and economic situation.</p> 875 876<p><br> 877The agreement in principle (AIP) reached between Ethiopia and the Bondholdersâ Ad Hoc Committee in January 2026 was assessed by the OCC as non-compliant with the principle of comparability of treatment, as its implementation would likely have resulted in a very low restructuring effort from the bondholders. Attempts from bondholders to elude efforts and resort to litigation procedures also undermine debt restructuring processes of Common Framework and the economic recovery prospects of a country in financial distress.<br> 878The OCC commends the Ethiopian authorities for having resumed in good faith the negotiations with the Bondholdersâ Ad Hoc Committee and for the AIP reached on June 29, 2026. The OCC takes note of the AIP and the introduction of a New Money Warrant, a new and innovative instrument that would give the right for its holder to subscribe to a future bond issuance by Ethiopia on pre-agreed terms.</p> 879 880<p><br> 881After careful consideration, the OCC considers that, at this stage, the AIP is compliant with the principle of comparability of treatment and the Memorandum of Understanding agreed with Ethiopia. While the level of effort provided through the New Bond is considered consistent with the principle of comparability of treatment when assessed against the three relevant comparability indicators, it remains relatively low and could be further affected by the potential exercise of the New Money Warrant. The actual provision of New Money, by contributing to addressing the countryâs financing needs, would be a mitigating factor supporting the overall assessment of comparability of treatment. Conversely, should the New Money Warrant be shown to grant excessive benef
881its to bondholders, such as through repurchase or redemption of the instrument, the OCC would consider the implications for the comparability of treatment, which would lead to an adjustment of its own debt treatment to remedy the situation through a proportionate compensation for the OCC, as provided for by the Memorandum of Understanding.</p> 882 883<p><br> 884In addition, while the OCC is open to considering such an innovative market solution designed to bridge positions in this very specific case, it will closely monitor its implementation before considering another potential replication of such an instrument in the future. This assessment should not be interpreted as establishing a general precedent for future Common Framework debt treatments.<br> 885The OCC will keep supporting the Ethiopian authorities in their continued efforts in reaching comparable debt treatment agreements with their remaining creditors.</p> 886 887<p>Yours sincerely,<br> 888The OCC co-chairs,<br> 889Yang Jing and Thomas Revial<br> 890H.E. Ahmed Shide<br> 891Minister of Finance<br> 892Federal Democratic Republic of Ethiopia</p> 893 </div> 894 895 896 897 898 899 900 </article> 901 902 <ul class="share-buttons"> 903 <li><a class="fb-share ssk ssk-facebook" href="#"><i class="lni lni-facebook-filled"></i> Share</a></li> 904 <li><a class="twitter-share ssk ssk-twitter" href="#"><i class="lni lni-twitter-filled"></i> Tweet</a></li> 905 <li><a class="gplus-share ssk ssk-email" href="#"><i class="lni lni-envelope"></i> Email</a></li> 906 <li><a class="linkedin-share ssk ssk-linkedin" href="#"><i class="lni lni-linkedin-original"></i> linkedin</a></li> 907 </ul> 908 909 <span>5879 Views</span> 910 </div> 911 </div> 912 </div> 913 914 <div class="col-lg-4 col-md-12 col-xs-12"> 915 <ul class="widget-tabs"><h3 class="sidebar-title">Latest News</h3><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/ethiopia-announces-favourable-comparability-of-treatment-assessment-of-official-creditor-committee-regarding-agreed-terms-of-eurobond-restructuring/"><img src="/media/filer_public_thumbnails/filer_public/13/94/1394748c-a6ab-409e-a7f9-cc0b9233a67e/new-logo-mof_1_1.png__300x200_q85_crop_subsampling-2_upscale.png" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/ethiopia-announces-favourable-comparability-of-treatment-assessment-of-official-creditor-committee-regarding-agreed-terms-of-eurobond-restructuring/">Ethiopia announces favourable Comparability of Treatment assessment of Official Creditor Committee regarding agreed terms of Eurobond restructuring</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/ethiopia-reaches-agreement-in-principle-with-ad-hoc-committee-of-bondholders-on-principal-financial-terms-of-restructuring-of-2024-notes/"><img src="/media/filer_public_thumbnails/filer_public/39/1a/391aaaf1-a520-45df-8993-5c90a48166cf/logo.png__346x231_q85_crop_subsampling-2.png" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/ethiopia-reaches-agreement-in-principle-with-ad-hoc-committee-of-bondholders-on-principal-financial-terms-of-restructuring-of-2024-notes/">Ethiopia reaches agreement in principle with Ad Hoc Committee of bondholders on principal financial terms of restructuring of 2024 Notes</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/imf-reaches-staff-level-agreement-on-the-fifth-review-of-the-extended-credit-facility-for-ethiopia/"><img src="/media/filer_public_thumbnails/filer_public/3a/74/3a74cc88-e076-4d10-81b1-620002118621/imf-seal-shadow-sep2019-update.png__526x315_q85_crop_subsampling-2_upscale.png" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/imf-reaches-staff-level-agreement-on-the-fifth-review-of-the-extended-credit-facility-for-ethiopia/">IMF Reaches Staff Level Agreement on the Fifth Review of the Extended Credit Facility for Ethiopia</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/ethiopia-urges-scaled-up-financing-for-africas-rural-transformation-at-ifad14/"><img src="/media/filer_public_thumbnails/filer_public/12/c6/12c647dd-8ca9-40b6-875b-8d683060d6d3/709137510_1434677282034518_5950937622984122610_n.jpg__346x231_q85_crop_subsampling-2.jpg" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/ethiopia-urges-scaled-up-financing-for-africas-rural-transformation-at-ifad14/">Ethiopia Urges Scaled-Up Financing for Africaâs Rural Transformation at IFAD14</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/update-on-the-restructuring-of-ethiopias-6625-notes-due-2024/"><img src="/media/filer_public_thumbnails/filer_public/39/1a/391aaaf1-a520-45df-8993-5c90a48166cf/logo.png__346x231_q85_crop_subsampling-2.png" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/update-on-the-restructuring-of-ethiopias-6625-notes-due-2024/">Update on the restructuring of Ethiopiaâs 6.625% Notes due 2024</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/ethiopias-official-statement-on-comparability-of-treatment-external-debt-restructuring/"><img src="/media/filer_public_thumbnails/filer_public/39/1a/391aaaf1-a520-45df-8993-5c90a48166cf/logo.png__346x231_q85_crop_subsampling-2.png" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/ethiopias-official-statement-on-comparability-of-treatment-external-debt-restructuring/">Ethiopia's Official Statement on Comparability of Treatment â External Debt Restructuring</a></h5><div class="clearfix"></div></div></div><li><li><div class="widget-content"><div class="widget-thumb"><a class="post-img" href="/blog/ethiopia-and-italy-sign-5-million-agreement-for-riverside-development-project/"><img src="/media/filer_public_thumbnails/filer_public/cd/97/cd9703c8-d28a-4a78-90e5-a72e4c974e0d/photo_2026-05-14_18-24-05.jpg__346x231_q85_crop_subsampling-2.jpg" alt="None" width="90" height="56" /></a></div><div class="widget-text"><h5><a href="/blog/ethiopia-and-italy-sign-5-million-agreement-for-riverside-development-project/">Ethiopia and Italy Sign â¬5 Million Agreement for Riverside Development Project</a></h5><div class="clearfix"></div></div></div><li> 916</ul> 917 </div> 918
919 </div> 920 </div> 921</div> 922 923 924 925</div> 926 927 928 <!-- Modal --> 929<div class="modal fade" id="site-search" tabindex="-1" role="dialog" aria-labelledby="exampleModalLabel" aria-hidden="true"> 930 <div class="modal-dialog" role="document"> 931 <div class="modal-content"> 932 <div class="modal-header"> 933 934 <button type="button" class="close" data-dismiss="modal" aria-label="Close"> 935 <span aria-hidden="true">×</span> 936 </button> 937 </div> 938 <div class="modal-body"> 939 <form action="/blog_list/" method="get" role="search"> 940 <div class="input-group p-3"> 941 <input type="text" class="form-control rounded-0" placeholder="Search" 942 aria-label="Search" aria-describedby="basic-addon2" name="q" /> 943 <button type="submit" class="input-group-text btn-outline-warning rounded-0" 944 id="basic-addon">Search</span> 945 </div> 946 </form> 947 </div> 948 949 </div> 950 </div> 951</div> 952 <!-- Footer Section Start --> 953 <footer id="footer" class="footer-area section-padding"> 954 <div class="container"> 955 956 <div class="row"> 957 <div class="col-lg-3 col-md-6 col-sm-12 col-xs-12"> 958 <h3 class="footer-titel">Ministry</h3> 959 <ul class="footer-link"> 960 <li> 961 <a href="/ministry-en/about-ministry/" class="text-uppercase">ABOUT US</a> 962 </li> 963 <li> 964 <a href="/feedback" class="text-uppercase">CONTACT US</a> 965 </li> 966 967 <li><a href="/blogphoto" class="text-uppercase">Photo News</a> 968 </li> 969 </ul> 970 </div> 971 <div class="col-lg-3 col-md-6 col-sm-12 col-xs-12"> 972 <h3 class="footer-titel">Information</h3> 973 <ul class="footer-link"> 974 <li><a href="/vacancies" class="text-uppercase">Vacancies</a></li> 975 <li> 976 <a href="/bid" class="text-uppercase">Bid</a> 977 </li> 978 <li><a href="#" class="text-uppercase">Forms</a></li> 979 </ul> 980 </div> 981 <div class="col-lg-3 col-md-6 col-sm-12 col-xs-12"> 982 <h3 class="footer-titel">Address</h3> 983 <ul class="address"> 984 <li> 985 <i class="lni lni-map-marker"></i> <a title="View Map" href="https://maps.app.goo.gl/STuxxyzJo384m4Ud6" target="_new">Addis Ababa, Ethiopia</a> 986 </li> 987 <li> 988 <i class="lni lni-phone-set"></i> + 25111 155 2015 989 </li> 990 991 <li> 992 <i class="lni lni-envelope"></i> [email protected] 993 </li> 994 </ul> 995 </div> 996 <div class="col-lg-3 col-md-6 col-sm-12 col-xs-12"> 997 <!--<h3 class="footer-titel">Subscribe For Updates</h3> 998 <form method="post" action="newsletter/" id="subscribe-form" name="subscribe-form" class="validate"> 999 <input type="hidden" name="csrfmiddlewaretoken" value="wtRMhNphdZtzotWl96SojRsK59B9k66Pgf9ry5LGyNYUYLixi74sjqBmisWpgcpZ"> 1000 <div class="form-group is-empty"> 1001 <input type="email" value="" name="email" class="form-control" id="EMAIL" placeholder="Email address" required=""> 1002 <button type="submit" name="subscribe" id="subscribes" class="btn btn-common sub-btn"><i class="lni-envelope"></i></button> 1003 <div class="clearfix"></div> 1004 </div> 1005 </form>--> 1006 <div class="social-icon"> 1007 <a class="facebook" href="https://www.facebook.com/MoFEthiopia" target="new"><i class="lni lni-facebook-filled"></i></a> 1008 <a class="twitter" href="https://twitter.com/MoF_Ethiopia" target="_new"><i class="lni lni-twitter-original"></i></a> 1009 <a class="youtube" href="https://www.youtube.com/channel/UCZdMnp22u5BJ6n1wfyLpKNQ/videos" target="_new"><i class="lni lni-youtube"></i></a> 1010 <a class="linkedin" href="https://www.linkedin.com/company/ministry-of-finance-ethiopia" target="_new"><i class="lni lni-linkedin-original"></i></a> 1011 <a class="telegram" href="https://t.me/ministry_of_finance" target="_new"><i class="lni lni-telegram-original"></i></a> 1012 <a class="telegram" href="https://vm.tiktok.com/ZMkD9mpSh/" target="new"><i class="lni lni-tiktok"></i></a> 1013 1014 </div> 1015 <p>Visitors: 5879<p> 1016 1017 1018 </div> 1019 </div> 1020 1021 </div> 1022 </footer> 1023 <!-- Footer Section End --> 1024 1025 <section id="copyright"> 1026 <div class="container"> 1027 <div class="row"> 1028 <div class="col-md-12"> 1029 <p>Copyright © 2025 <a rel="nofollow" href="https://www.mofed.gov.et">MOF</a> All Right Reserved</p> 1030 </div> 1031 </div> 1032 </div> 1033 </section> 1034 1035 <!-- Go to Top Link --> 1036 <a href="#" class="back-to-top"> 1037 <i class="lni lni-chevron-up"></i> 1038 </a> 1039 1040 <!-- 1041 <div id="preloader"> 1042 <div class="loader" id="loader-1"></div> 1043 </div> --> 1044 <div id="fb-root"></div>
1045<script async defer crossorigin="anonymous" src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v23.0&appId=591753878921527"></script>
1045 1046
1046<script type="javascript"> 1047 1048 1049 1050 $(document).ready(function() { 1051 1052 1053 1054 $('.flexslider').flexslider({ 1055 animation: "slide" 1056 }); 1057 1058 $('#f1').flexslider({ 1059 animation: "slide", 1060 start: function(slider){ 1061 $('body').removeClass('loading'); 1062 } 1063 }); 1064 1065 $('#f2').flexslider({ 1066 animation: "slide", 1067 start: function(slider){ 1068 $('body').removeClass('loading'); 1069 } 1070 }); 1071 }); 1072 1073 </script>
1073 1074 <!-- jQuery first, then Popper.js, then Bootstrap JS --> 1075 1076
1076<script src="/static/assets/js/popper.min.js"></script>
1076 1077
1077<script src="/static/assets/js/bootstrap.min.js"></script>
1077 1078
1078<script src="/static/assets/js/jquery.mixitup.js"></script>
1078 1079
1079<script src="/static/assets/js/jquery.counterup.min.js"></script>
1079 1080
1080<script src="/static/assets/js/ion.rangeSlider.js"></script>
1080 1081
1081<script src="/static/assets/js/jquery.parallax.js"></script>
1081 1082
1082<script src="/static/assets/js/waypoints.min.js"></script>
1082 1083
1083<script src="/static/assets/js/wow.js"></script>
1083 1084
1084<script src="/static/assets/js/owl.carousel.min.js"></script>
1084 1085
1085<script src="/static/assets/js/jquery.slicknav.js"></script>
1085 1086
1086<script src="/static/assets/js/nivo-lightbox.js"></script>
1086 1087
1087<script src="/static/assets/js/form-validator.min.js"></script>
1087 1088
1088<script src="/static/assets/js/contact-form-script.min.js"></script>
1088 1089
1089<script src="/static/assets/js/jquery.slicknav.js"></script>
1089 1090
1090<script src="/static/assets/js/main.js"></script>
1090 1091 1092 1093 <!-- Social Share Kit JS --> 1094
1094<script type="text/javascript" src="/static/ssk/dist/js/social-share-kit.js"></script>
1094 1095 1096
1096<script type="text/javascript"> 1097 1098 SocialShareKit.init({ 1099 onBeforeOpen: function (targetElement, network, paramsObj) { 1100 console.log(arguments); 1101 }, 1102 onOpen: function (targetElement, network, networkUrl, popupWindow) { 1103 console.log(arguments); 1104 }, 1105 onClose: function (targetElement, network, networkUrl, popupWindow) { 1106 console.log(arguments); 1107 } 1108 }); 1109 </script>
1109 1110 1111 1112 </body> 1113</html>
Line numbers count LF bytes from the start of the resource, as the search results do. Vendor segments are library code the classifier recognised; they are stored but not indexed. Bytes are shown as Latin1 characters, one per byte.