(Bloomberg) --

Ethiopia asked the International Monetary Fund for a new extended credit facility arrangement, days after France and China co-chaired the first meeting for the nation’s major creditors.

Setting up a creditors’ panel and an agreement on how to deal with Ethiopia’s nearly $30 billion of external debt paves the way for the IMF to determine how to engage with the country on economic recovery. 

The government requested a new IMF credit arrangement to replace the one that just expired, State Minister for Finance Eyob Tekalign told reporters in the capital, Addis Ababa. 

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