Ethiopia had until December 25 to make a $33 million coupon payment to bondholders, but failed to do so Ethiopia has become the latest African nation to default in recent years, failing to make a $33 million interest payment on its only international government bond after a 14-day grace period expired earlier this week. The East African country had been scheduled to pay the bond coupon on December 11, but a two-week grace period allowed it until Monday to do so before officially defaulting. The country's finance ministry previously announced that Addis Ababa's efforts to renegotiate the bond terms prior to the pay
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