Chad Creditor Committee Holds Its Fourth Meeting, Co-chaired by Saudi Arabia and France

Thursday 1442/11/7 - 2021/06/17
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Riyadh, June 17, 2021, SPA -- The Chad Creditor Committee, co-chaired by the Kingdom of Saudi Arabia and France, convened a virtual meeting today, attended by officials from the International Monetary Fund and the World Bank, to discuss the economic and financial situation in Chad
The Creditor Committee, which includes Saudi Arabia, China, France, and India discussed the long-term sustainability of public debt and Chad’s official request to address its debt under the joint framework for debt processing outside of the "Debt Service Suspension Initiative (DSSI)" approved by the G20 meeting, held under the Kingdom of Saudi Arabia's presidency last November, which was also approved by the Paris Club.
The Committee indicated that the members of the Creditor Committee are obligated, per the national laws and internal procedures of each member of the Committee, to negotiate with the African country the terms of restructuring their claims and to finalize it in a memorandum of understanding.
The Creditor Committee said Chadian authorities are expected to seek from all private creditors and other official bilateral creditors debt treatments on terms at least as favorable as those being considered by the creditor committee, and in accordance with the principle of reciprocity.
Accordingly, the Creditors Committee urges private and other official bilateral creditors to commit to negotiating, without delay, with Chad on debt remedies and ensure full effectiveness of Chad's debt treatment.
-- SPA
22:33 LOCAL TIME 19:33 GMT