{Ethiopia is planning to issue its first Eurobond after finishing off an investor road show in New York, and will become the second-poorest country on record to tap the international debt market. } <\/p>\n
Ravenous demand for higher-yielding debt has encouraged a slew of countries previously shut out of international bond markets to issue securities for the first time \u2013 including Rwanda, Senegal, Azerbaijan and Zambia. Even countries with (very) patchy history of repaying creditors \u2013 like Ecuador and Greece \u2013 have been welcomed back. <\/p>\n
Ethiopia is one of the poorest countries in the world, with a gross domestic product per capita of just $1,240 (adjusting for PPP) according to the World Bank. <\/p>\n
A successful issue would make it the second-poorest country ever to tap the international bond market, after the Republic of Congo in 2007. <\/p>\n
However, the International Monetary Fund predicts that the country\u2019s economy will be the eighth-fastest growing in the world this year. <\/p>\n
The deal will have a 10-year maturity, and orders for the debut are already being placed with the banks, JPMorgan and Deutsche Bank. <\/p>\n
The country\u2019s maiden bond has been rated B1 by Moody\u2019s, deep into the \u201cjunk\u201d range of ratings, – See more at afkinsider<\/p>\n","protected":false},"excerpt":{"rendered":"
{Ethiopia is planning to issue its first Eurobond after finishing off an investor road show in New York, and will become the second-poorest country on record to tap the international debt market. } Ravenous demand for higher-yielding debt has encouraged a slew of countries previously shut out of international bond markets to issue securities for […]<\/p>\n","protected":false},"author":3,"featured_media":2000055298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-17689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000055298,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton17689.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/17689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=17689"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/17689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000055298"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=17689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=17689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=17689"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=17689"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=17689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}