A committee of Ethiopia's bondholders said on Monday the International Monetary Fund's latest report on the country contained flaws that "artificially" outline a solvency issue, a scenario that would require lenders to grant debt relief.

The salvo is the latest battle between the creditor committee, the IMF and Ethiopia over whether the country is facing a liquidity issue

Investors in Ethiopia’s defaulted dollar bond have accused the IMF of exaggerating how much debt relief the country needs, arguing that a surge in gold and coffee exports have restored the finances of east Africa’s biggest economy to a sounder footing.

Investors holding Ethiopia's defaulted bond said the latest International Monetary Fund report contains "significant flaws" that "artificially" creates a solvency issue that would require them to give the East African nation debt relief,