The International Monetary Fund (IMF) headquarters in Washington, D.C. (Getty Images) Bloomberg By Samuel Gebre The International Monetary Fund backed Ethiopia’s plan to rework its debt under the Group of 20 common framework as it reached a staff-level agreement with the government on credit facilities. To strengthen debt sustainability, the authorities aim to lower the risk of debt distress rating to moderate by re-profiling debt service obligations,” the lender said in an emailed statement on Tuesday. “In this context, the fund welcomes Ethiopia’s request for debt treatment under the G20 Common Framework.” Ethiopia announced plans last month to rework its liabilities under the G-20 program that seeks to include private creditors into an agreement on debt relief for countries that need it following the fallout from the coronavirus pandemic. The nation’s Eurobonds plunged the most on record following the revelation, and then partly recovered after the government said it would only approach private creditors as a last resort.