The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, welcomed the agreement reached between Chad and its creditors under the common framework for the treatment of the debt of the Group of Twenty, informs a press release published on Wednesday November 16 on the Fund’s website.
“I welcome the announcement made by the Minister of Finance of Chad, Mr. Tahir Hamid Nguilin, that the Chadian authorities have reached an agreement for the treatment of the country’s debt with its external creditors”, he said. she stated.
“The IMF welcomes the work of the committee of official creditors which brings together China, France, India and Saudi Arabia, as well as the collaboration of private creditors, which made it possible to reach this agreement, the first in date under the common framework of the G20. We have been waiting for this day for a long time,” she continued.
Also in his words, “this debt treatment agreement for Chad is consistent with the objectives of the IMF-supported program approved in December 2021. It reduces the risk of debt distress at a time when the global economic outlook is uncertain, and provides protection against economic risks that could weigh on Chad, such as the fall in the price of petroleum products”.
When formalized, this arrangement should make it possible, by the end of the year, to complete the first and second reviews by the IMF of the three-year arrangement under the Extended Credit Facility for Chad, which will help put the economy of Chad on the path of sustainable growth and poverty reduction, also indicated the CEO of the Bretton Woods institution.
And to conclude, “I look forward to the prospect of continuing our fruitful cooperation with Chad in the coming period”.
By OMA Newsletter N° 941 of 17/11/2022
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
