{"id":275673,"date":"2025-04-26T21:57:36","date_gmt":"2025-04-27T02:57:36","guid":{"rendered":"https:\/\/ethiopanorama.com\/?p=275673"},"modified":"2025-04-26T21:57:36","modified_gmt":"2025-04-27T02:57:36","slug":"fitch-sustains-ethiopias-default-rating-for-usd1-billion-eurobond-the-reporter","status":"publish","type":"post","link":"https:\/\/ethiopanorama.com\/?p=275673","title":{"rendered":"Fitch sustains Ethiopia\u2019s default rating for USD1 billion eurobond\u00a0 – The Reporter\u00a0"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n
\"\"\/<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Business<\/a> Fitch Sustains Ethiopia\u2019s Default Rating for USD1 Billion Eurobond<\/a><\/p>\n\n\n\n

By Staff Reporter<\/a><\/p>\n\n\n\n

April 26, 2025<\/p>\n\n\n\n

The global rating agency Fitch has opted to keep Ethiopia\u2019s credit rating at Restrictive Default\u2014the same rating it issued after Ethiopia failed to pay the first USD 33 million coupon on its USD one billion Eurobond in December 2023.<\/p>\n\n\n\n

\u201cFitch Ratings will move Ethiopia\u2019s Long-Term Foreign-Currency IDR [Issuer Default Rating] out of default once it completes its restructuring process with private creditors on foreign-currency debt,\u201d reads a rating update issued by the agency on Thursday.<\/p>\n\n\n\n

However, the rating agency upgraded Ethiopia\u2019s Long-Term Local-Currency IDR to \u2018CCC+\u2019 from triple C status.<\/p>\n\n\n\n

The upgrade, it said, \u201creflects reduced financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the debt restructuring.\u201d<\/p>\n\n\n\n

The rating came amidst the Spring Meetings of the International Monetary Fund (IMF) held in Washington, DC over the week.<\/p>\n\n\n\n

– Advertisement –<\/ins><\/p>\n\n\n\n

On the sidelines of the meeting, IMF Managing Director Kristalina Georgieva told a press conference that with the exception of Morocco, African countries were failing to \u201cput their fiscal houses in order\u201d.<\/p>\n\n\n\n

She said her organization encouraged countries to press ahead with their respective reform programs, and \u201cnot postpone\u201d them, although the time, she admitted, was one in which the global trading system was fundamentally shaken.<\/p>\n\n\n\n

Meanwhile, speaking at a sideline event, Executive Secretary of the Economic Commission for Africa (ECA) Claver Gatete accused the global rating agencies of bias against African countries.<\/p>\n\n\n\n

He called for Africa to establish its own internationally credible rating agency, which he said would be able to provide the continent\u2019s own credit worthiness and ratings.<\/p>\n","protected":false},"excerpt":{"rendered":"

Business Fitch Sustains Ethiopia\u2019s Default Rating for USD1 Billion Eurobond By Staff Reporter April 26, 2025 The global rating agency Fitch has opted to keep Ethiopia\u2019s credit rating at Restrictive Default\u2014the same rating it issued after Ethiopia failed to pay the first USD 33 million coupon on its USD one billion Eurobond in December 2023. […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[19],"tags":[],"class_list":["post-275673","post","type-post","status-publish","format-standard","hentry","category-19"],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/posts\/275673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=275673"}],"version-history":[{"count":1,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/posts\/275673\/revisions"}],"predecessor-version":[{"id":275676,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=\/wp\/v2\/posts\/275673\/revisions\/275676"}],"wp:attachment":[{"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=275673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=275673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethiopanorama.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=275673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}