Ethiopia Unveils First Treasury-Bill Issuance Calendar, Marking Milestone in Public Finance Reform











Addis Ababa, July 22, 2025 — In a landmark move to modernize Ethiopia’s public finance framework, the Ministry of Finance has released the country’s first-ever issuance calendar for Treasury bills, signaling a major shift toward a market-based approach to deficit financing.

The three-month issuance calendar outlines a schedule for domestic-currency Treasury bill auctions, aiming to bring greater transparency, predictability, and investor confidence to the local debt market. This initiative forms part of the government’s broader “reset, reform, and relaunch” agenda designed to deepen the domestic debt market and improve fiscal discipline.

By publishing a forward-looking calendar, the Ministry intends to provide market participants with clear visibility of upcoming auctions. This, in turn, is expected to foster more efficient market participation, reduce borrowing costs, and minimize inflationary pressures associated with ad-hoc public borrowing.

“This is a key milestone in Ethiopia’s journey toward more transparent and sustainable debt management,” the Ministry stated. “It supports our commitment to borrow domestically in a responsible manner while safeguarding macroeconomic stability.”

The move also complements the recent opening of Ethiopia’s secondary bond market and the expansion of competitive retail auctions through the Ethiopian Securities Exchange. By doing so, it broadens access for a wider range of investors, including individuals and institutional players.

As part of ongoing reforms, the Ministry of Finance pledged to continue aligning its practices with international best standards, promoting investor openness, and enhancing market participation to boost fiscal credibility.

The newly launched calendar is publicly accessible via the Ministry’s official website: https://lnkd.in/en48S4V6.