Ethiopia is intensifying efforts to stabilise its public finances as a high-level delegation, led by National Bank Governor Eyob Tekalign, arrives in China this week, Capital News reports. The visit aims to accelerate debt restructuring and strengthen bilateral economic ties.

The delegation is scheduled to meet officials from China’s Ministry of Finance, the People’s Bank of China, and Exim Bank, alongside leading commercial and financial institutions. Discussions are expected to cover both the implementation of Ethiopia’s Home-Grown Economic Reform Agenda and potential investment opportunities.

The trip follows Ethiopia’s formalised debt restructuring agreement with the Official Creditors Committee, co-chaired by China and France under the G20’s Common Framework. The agreement provides roughly 2.5 billion US dollars in debt relief from 2023 to 2028 and comes after Ethiopia’s default on a Eurobond in December 2023.

The visit also signals Ethiopia’s commitment to deepening long-term economic cooperation with its largest bilateral creditor.