KEYIR NEWS - Newly appointed central bank governor Eyob Tekalign is leading a high-level delegation to China this week as the country seeks to advance debt restructuring efforts and strengthen long-term economic cooperation with one of its most important partners.
The mission comes at a pivotal moment, as authorities work to stabilize the economy under the Home-Grown Economic Reform Agenda while navigating external debt challenges.
The visit builds on the recently concluded debt restructuring agreement with the Official Creditors Committee, co-chaired by China and France, under the G20 Common Framework. That deal provided much-needed fiscal breathing space, but officials stress that further engagement with creditors is essential to sustain recovery.
During the trip, the delegation is expected to hold high-level talks with senior officials from the Ministry of Finance of China, the People’s Bank of China, and the Export-Import Bank of China (Exim Bank).
Meetings are also scheduled with leaders of major financial and commercial institutions, reflecting the dual focus of the visit: securing debt relief while promoting new investments.
Governor Eyob Tekalign emphasized that the visit is designed not only to accelerate restructuring efforts but also to reaffirm a broad-based partnership with China.
“China has been a vital development and financing partner,” he said. “This visit provides an opportunity to consolidate cooperation in finance, trade, and investment while creating new avenues for joint growth.”
The delegation will brief Chinese counterparts on progress in financial sector reforms, investment liberalization, and infrastructure development, all of which are central pillars of the reform agenda.
Officials are also expected to highlight priority areas for future Chinese investment, particularly in manufacturing, agriculture, energy, transport, and digital technology.
Analysts note that the timing of the visit is significant. As the country seeks to attract foreign direct investment and expand export capacity, China’s role as both creditor and investor is crucial. Deepening ties could help diversify sources of growth, bolster foreign exchange reserves, and enhance resilience amid global economic pressures.
The visit also underscores the determination to balance debt relief with forward-looking reforms. While the restructuring agreement offered temporary relief, long-term stability will depend on sustained investment and effective economic governance.
With this week’s mission, the new central bank governor is signaling an intention to engage proactively with partners, ensuring that financial restructuring is matched with growth-oriented cooperation.
Strengthening ties with China remains not just a matter of debt relief, but a cornerstone of the broader economic transformation strategy.