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- Chad’s economic and financing situation continues to worsen following the combined shocks of the COVID-19 pandemic, oil price decline, climate change, and terrorist attacks, said the IMF in a statement issued
- Its debt position is presently assessed as unsustainable by authorities
- Because of that, the government had to cut critical social and development outlays
Chad’s economic and financing situation continues to worsen following the combined shocks of the COVID-19 pandemic, oil price decline, climate change, and terrorist attacks, said the IMF in a statement issued. Its debt position is presently assessed as unsustainable by authorities. Because of that, the government had to cut critical social and development outlays.
Official creditors in the Creditor Committee for Chad under the Common Framework for Debt Treatments beyond the DSSI (Common Framework), have in June 16 supported Chad’s IMF-supported program and committed to negotiate debt restructuring terms accordingly.
Comparable treatment from Chad’s private creditors is also required to unlock the official financing that Chad urgently needs. The IMF has also endorsed the call by the Creditor Committee for private creditors to commit to negotiate such debt treatment without delay. The international community will be monitoring developments in Chad, which is presently undergoing a number of challenges.
