Ethiopia has secured an agreement in principle with an ad hoc committee representing investors in its $1 billion Eurobond, the Ministry of Finance announced.
The development signals progress in the nation's efforts to restructure its external debt and restore access to international capital markets.
The agreement outlines terms for the restructuring of the bond, which has been a focal point of Ethiopia's broader debt management strategy.
While specific details of the financial terms were not immediately disclosed, the consensus with the ad hoc committee is a prerequisite for engaging with the wider bondholder base.
This financial milestone arrives shortly after Ethiopia's ruling Prosperity Party retained a commanding majority in parliament during this month's general election.
The political stability provided by the election results may bolster investor confidence as the government navigates complex debt negotiations.