LONDON: Ethiopia’s only international market government bond rose to its highest level since October 2021 on Tuesday after the country secured a long-awaited support programme with the International Monetary Fund.
The announcement of the $3.4 billion programme had come hours after Ethiopia had undertaken one of the IMF’s key recommendations and floated its currency, the birr.
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It saw the price of its $1 billion dollar bond, which is currently in the process of being restructured, climb almost 2 cents on the dollar to 77.5 cents according to Tradeweb data.
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