Ethiopia’s defaulted USD bond rallied for a record 12th day, buoyed by a USD 1.72 bln financing package from the World Bank and an extended deadline for an IMF bailout agreement. The Paris Club’s three-month extension for the IMF deadline prevents creditors from voiding a previous debt service suspension agreement. An IMF program is pivotal for Ethiopia to access additional concessional financing to bridge its USD 11.5 bln financing gap.