- Grace period for eurobond coupon payment due Dec. 11 lapses
- Nation has already begun restructuring talks with bondholders
Ethiopia became Africa’s latest defaulter after it failed to make an interest payment following the end of a grace period on Monday.The Horn of Africa nation had to pay a $33 million coupon on Dec. 11. The government didn’t want to make the payment because it “wants to treat all creditors in the same way,” Ahmed Shide, Ethiopia’s minister of finance said on state TV on Thursday.