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Separately, it says it has now also opened talks with private bondholders to try to reach a similar understanding over USD3bn in dollar-denominated bonds.
Although a 14-day grace period to make the payment or agree a payment suspension has yet to expire, there is now a high risk that a default is imminent.
Addis Ababa must reach an agreement with the IMF to honour its commitments under its debt-service suspension agreement with official creditors. Thereafter, further talks will be…
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DOI: 10.1108/OXAN-DB286657
ISSN: 2633-304X
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Numerous domestic and external shocks have rocked the macroeconomic environment in recent years, aggravating high inflation and chronic foreign exchange (forex) shortages…
Reforms to the ESM, which is the EU’s main bailout fund, were agreed by member states in 2021 but implementation has been halted by Italian opposition. The vote exposed divisions…
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DOI: 10.1108/OXAN-DB284559
ISSN: 2633-304X
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The weakness of the Kenyan shilling, which is constantly hitting new record lows, has generated so much concern that, on October 24, parliament summoned the central bank governor…
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DOI: 10.1108/OXAN-DB283254
ISSN: 2633-304X
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The country’s system of pension funds has long been close to bankruptcy, but awareness of the urgency of the issue has increased over the past year. Nonetheless, proposed pension…
His Modern Revolutionary Party (PRM) did similarly well, securing its largest-ever Senate majority and taking a majority in the Chamber of Deputies. Success was built on a strong…
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DOI: 10.1108/OXAN-DB287382
ISSN: 2633-304X
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KENYA: Dialogue report may fail to resolve tensions
ARGENTINA: Milei platform raises implementation doubts