December 12, 2019 / 9:20 AM / a month ago

REFILE-IMF preliminary deal lifts Ethiopia dollar bonds to near-two year high

(Fixes typo in month of the year in first paragraph)

LONDON, Dec 12 (Reuters) - Ethiopia’s dollar-denominated sovereign bonds jumped on Thursday to the highest since January 2018 after the country reached a staff level agreement over $2.9 billion financing package with the International Monetary Fund.

The bond maturing in 2024 gained 0.9 cents to 106.135 cents in the dollar, according to Tradeweb data.

The fund and the government reached a preliminary agreement on Wednesday for a three-year financing package to support the African country’s economic reform programme. (Reporting by Karin Strohecker; editing by Sujata Rao and Jon Boyle)

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