Govt reaches interim deal with external bond holders 

Govt reaches interim deal with external bond holders 

Government has reached an interim agreement with its external commercial creditors , Minister of Finance, Dr Mohammed Amin Adam has announced.


He said the agreement would, however, have to be tweaked a bit to meet IMF debt sustainability targets.

The government in December 2022 suspended interest payments on its $14 billion commercial external debt out of which $13 billion is in Eurobonds.

The government has since set up two bond holder groups as it seeks to restructure its debt to them as part of measures to achieve debt sustainability under the three year IMF.

In a Twitter post sighted by the Graphic Business, the minister said the government and the bond holders would regroup to continue negotiations until it reaches a deal that is consistent with IMF debt sustainability targets

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