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Hope rises for Chad debt relief

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Hopes are high that Chad could be the first country, under a new G20 debt restructuring framework, to get a debt relief.

French finance ministry, which is deeply involved in the debt-relief discussions under the G20 framework, said Chad’s creditors are close to reaching a debt relief agreement.

It said Chad was one of the three countries which have so far sought a debt restructuring under a G20 initiative established at the end of 2020.

The ministry ,however, noted that China, the biggest creditor to many African countries, was reluctant about reducing countries’ debt burdens.

It is believed that a debt relief agreement on Chad would give some visibility to the country.

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