Ethiopia says "significant progress" made with China on debt restructuring

LONDON, March 30 (Reuters) - Ethiopia has made "significant progress" in recent days during talks with leading Chinese lenders aimed at finalising the African's country's long-dragging government debt restructuring, Ethiopia's finance ministry said on Monday.

A statement from the ministry said the talks in Beijing had seen the parties enter "the final stage of concluding the (debt restructuring) exercise" which has been in the works after Ethiopia defaulted on its sole international bond in late 2023.

The statement added that Finance Minister Ahmed Shide encouraged the Chinese banks that took part in talks to expedite the approval of financing for Ethiopia's new Bishoftu airport, which is expected to be the largest in Africa.