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French President Emmanuel Macron supports the Debt restructuring plan in Ethiopia and calls for speed in finalizing agreements and strengthening economic reforms.
French President Emmanuel Macron and Ethiopian Prime Minister Abiy Ahmed shake hands during a joint news conference in Addis Ababa.
Emmanuel Macron says his country is still firmly committed to the restructuring process of Ethiopian debt. During a visit to Addis Ababa last Saturday, he called for “a fast resolution in a few weeks.”
Macron Visit
The visit of Macron to Ethiopia came after his stop in Djibouti during a regional tour. His remarks come after Ethiopia and the International Monetary Fund, in recent weeks, reviewed a $3.4 billion financing program.
“Thanks to your commitment to the reform program you are leading, we will be able in the coming weeks to finalize the restructuring of this 3 billion euros debt “, Macron said, speaking with Ethiopian Prime Minister Abiy Ahmed during a joint press conference.
Ethiopian economic reforms
Macron hailed the current Ethiopian economic reforms at the heart of the discussions in the IMF, saying France was staunchly behind Ethiopia through those complex processes. “This is not just about the numbers,” Macron said, “it’s a matter of supporting the vision a country has for progress and stability.
Ethiopia has been battling serious economic challenges, the COVID-19 pandemic, and regional conflicts. Debt restructuring is a very important step toward economic recovery and the return of investor confidence.
A key meeting with the IMF is scheduled for mid-January, at which final agreements might be concluded. Macron emphasized how important this set of discussions will be in helping Ethiopia gain financial stability and move along the path of reform.
In a Nutshell
Ethiopian Prime Minister Abiy Ahmed thanked France for the cooperation. “It is a partnership proving Ethiopia is not alone in the journey to economic renewal.” The visit underlines the broader interest by France to reinforce its ties with African countries.
