Ethiopia's Debt Default is Imminent | Business Edge

Ethiopian officials are scrambling to avert a financial meltdown by making a last-ditch effort to secure early debt relief from international bondholders. Facing a potential sovereign default today, the country's finance ministry is proposing a non-negotiable debt restructuring plan to alleviate its crippling debt burden.

The country's finance ministry said it had asked its international bondholders to offer early debt relief that does not have to be renegotiated over the comparability of treatment concerns. However, in more woes for the Horn of Africa country, Fitch Ratings downgraded the country's credit rating further into junk territory.

Anchor: Tolulope Adeleru-Balogun
Guest: Aly Khan Satchu, African Geo-economist and Macro-Analyst

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