UPDATE 1-Ethiopia dollar bond hits record low after US move on duty free access
Published on: Tuesday 02 November 2021
Ethiopia's sovereign dollar bond dropped to a record low on Wednesday after U.S. President Joe Biden said he planned to cut off the country from duty free access to the United States and conflict on the ground escalated further. The 2024 bond fell by 2.3 cents in the dollar to 78.063 cents, Tradeweb data showed. Biden told Congress he intends to remove Ethiopia from the U.S. African Growth and Opportunity Act due to human rights violations, the strongest response yet to the conflict in the region of Tigray that has caused mass displacement and famine.
