Updated: Feb 8
According to Bloomberg, Ethiopia’s bonds are the best-performing sovereign debt in emerging markets this year.
The bonds have rallied 6 cents on the dollar since Jan. 26 when the Ethiopian Council of Ministers shortened the six-month state of emergency.
That brings returns this year to 13%, the best performance out of 80 developing nations tracked by Bloomberg and the highest jump recorded this year. Last year, the securities lost 28%, the worst performance after El Salvador.