Ethiopia Bondholders Reject Offer and Warn of Lawsuit
A group of bondholders has rejected Ethiopia's revised proposal to restructure its defaulted $1 billion international bond. The committee warned that some members intend to pursue legal claims in English courts after the government failed to provide a viable consensual solution.
Ethiopia bondholders rejected a revised restructuring proposal for a defaulted $1 billion international bond. The creditor committee warned that some members now intend to pursue legal action in the United Kingdom to enforce their rights. This escalation threatens to further delay a debt resolution process that began in 2021.
### Creditors Reject Revised Terms The bondholder committee stated the government's latest offer fails to provide a viable consensual solution. This rejection follows a reworked proposal from the Ethiopian government designed to satisfy bilateral lenders. While the committee remains open to alternative solutions, the lack of progress has pushed some members toward litigation.
