Addis Ababa, 2^nd July 2025 The Ministry of Finance of the Federal Democratic Republic of  Ethiopia is pleased to announce the conclusion of an agreement on a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC), formalizing the debt treatment agreed in principle in March 2025, offering a relief of over USD 3.5 billion.

The agreement represents an important milestone in Ethiopia's journey towards achieving long-term public debt sustainability and brings to a successful conclusion years long  negotiation process.

Ethiopia extends its heartfelt gratitude to all members of the OCC, particularly to the committee's co-chairs, China and France, for their steadfast support and collaboration in facilitating Ethiopia's debt treatment endeavors.

Following the signing of this MoU, its terms will be implemented through bilateral agreements with each member of the OCC.

Dr Eyob Tekalign Tolina, State Minister of Finance issued the following statement:

“Ethiopia remains confident that the collaborative and pragmatic spirit that has prevailed so far

will help expedite the process of finalizing bilateral agreements. Ethiopia continues to engage in

good faith with all its other participating external creditors and seeks to conclude restructuring

agreements on terms compatible with the country's need for debt relief and the comparability

of treatment principle. The Ethiopian Government is hopeful that the formalization of its debt

treatment with the OCC will further bolster Ethiopia's efforts to reach agreement with

participating external creditors, including its bondholders.”