Ethiopia, recently invited to join the BRICS bloc, is seeking new funding sources beyond China. Capital Economics mentioned that Ethiopia is in talks with the IMF for a loan of at least USD 2 bln under a reform program. As the country requires more than USD 20 bln for reconstruction following internal conflicts, its move to join BRICS is an attempt to diversify its lender base. Investor concerns and slow progress in debt restructuring have caused Ethiopia’s sovereign bond spreads to increase significantly this year.