Ethiopia Advocates for Debt Relief at IMF & World Bank Meetings

State Minister of Fiscal Policy and Public Finance of Ethiopia, Eyob Tekalgn, called for temporary debt relief for countries that can meet their debt obligations. The State Minister of Fiscal Policy and Public Finance of Ethiopia made this statement during the annual meeting of the International Monetary Organization (IMF) and the World Bank. An Ethiopian delegation attended the conference and participated in discussions about global sovereign debt negotiations.

Many countries face significant financial challenges. Eyob Tekalgn emphasized that even if some nations can pay their debts, they still need temporary relief. This relief allows countries to focus on recovery and economic growth.

The delegation of Ethiopia engaged in important talks at the Global Sovereign Debt Negotiation Conference, and leaders from the IMF, World Bank, and the Group of G20 led these discussions. Eyob Tekalgn shared Ethiopia’s experiences with debt management. He stressed the urgency of obtaining immediate relief to help stabilize economies.

Highlights from Eyob Tekalgn’s Presentation

Experience Sharing: Eyob Tekalgn outlined Ethiopia’s strategies for managing its debts.

Urgency for Relief: He pointed out that countries need quick, structured debt relief.

Innovative Solutions: The IMF proposed new ideas to expand debt processing within six months, pending board approval.

Participants agreed on a clear and effective process for managing debt. They recognized that structured frameworks can help countries plan better and reduce financial uncertainty.

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