{"id":36094,"date":"2022-10-13T23:33:11","date_gmt":"2022-10-13T23:33:11","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/exclusive-chad-creditors-to-issue-statement-on-contingent-debt-relief-deal-source-says\/"},"modified":"2022-10-13T23:33:11","modified_gmt":"2022-10-13T23:33:11","slug":"exclusive-chad-creditors-to-issue-statement-on-contingent-debt-relief-deal-source-says","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/exclusive-chad-creditors-to-issue-statement-on-contingent-debt-relief-deal-source-says\/","title":{"rendered":"EXCLUSIVE Chad creditors to issue statement on contingent debt relief deal, source says"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">WASHINGTON, Oct 13 (Reuters) &#8211; Chad&#8217;s creditors expect to announce a contingent debt relief agreement with the African country later on Thursday, in what would be the first debt treatment under a G20 framework agreed in late 2020, a source with knowledge of the talks told Reuters.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Together with Ethiopia and Zambia, Chad was one of three initial countries to seek a debt restructuring under a G20 initiative.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">&#8220;We have an agreement that we will do things in order to relieve Chad &#8211; if need be,&#8221; the source said, adding that the agreement included Switzerland-based mining and commodity firm Glencore, a major creditor, which was seen as a &#8220;huge step.&#8221;<\/p>\n<div class=\"registration-prompt-v2__container__1mRPg registration-prompt-v2__inline__1JoxF article-body-v2__element__23wZV article-body-v2__inline-registration-prompt__3q-iu\">\n<p><h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt-v2__heading__2z1Vt\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt-v2__button-text__2m6i6\" type=\"button\"><span class=\"button__container__3sgvk\"><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/span><\/button><\/p>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">&#8220;They don&#8217;t really need debt relief at this stage, but we&#8217;re ready to do things, in particular in 2024,&#8221; the source said, speaking on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Washington.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Although Chad is currently benefiting from high oil prices, economists and experts say both government and private-sector creditors must be ready to act in case debt servicing conditions become more difficult for the country.<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">That could happen in 2024, the source said, when Chad will face a high level of debt service payments.<\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Chad&#8217;s finance minister welcomed the cooperation with the G20 framework and the IMF during a meeting that brought together African finance ministers and Group of Seven officials on Wednesday, the source said.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Progress on the G20 framework, agreed together with the Paris Club of official creditors, has been glacial with the United States, Spain and other G20 members taking aim at China, the biggest creditor to many African countries, for dragging its feet on reducing countries&#8217; debt burdens.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">Chad&#8217;s debt-relief discussions under the G20 framework have been led by the Paris Club and Saudi Arabia.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">A French finance ministry source on Monday said the creditors were close to a deal.<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__full_width__ekUdw body__large_body__FV5_X article-body-v2__element__23wZV\" style=\"font-size:20px\">The source said discussions were continuing with Zambia, whose finance minister also participated in the G7 meeting with African finance ministers, an event coordinated by current G7 president Germany.<\/p>\n<div class=\"registration-prompt-v2__container__1mRPg registration-prompt-v2__inline__1JoxF article-body-v2__element__23wZV\">\n<p><h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt-v2__heading__2z1Vt\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt-v2__button-text__2m6i6\" type=\"button\"><span class=\"button__container__3sgvk\"><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/span><\/button><\/p>\n<\/div>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off-v2__text__28fsH\">Reporting by Jorgelina do Rosario and Andrea Shalal; Editing by Paul Simao<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body-v2__element__23wZV\">Our Standards: <a data-testid=\"Link\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" target=\"_blank\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">The Thomson Reuters Trust Principles.<\/a><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.reuters.com\/world\/africa\/exclusive-chad-creditors-issue-statement-contingent-debt-relief-deal-source-says-2022-10-13\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON, Oct 13 (Reuters) &#8211; Chad&#8217;s creditors expect to announce a contingent debt relief agreement with the African country later on Thursday, in what would be the first debt treatment under a G20 framework agreed in late 2020, a source with knowledge of the talks told Reuters. Together with Ethiopia and Zambia, Chad was one &hellip;<\/p>\n","protected":false},"author":1,"featured_media":36095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36094"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=36094"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/36094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/36095"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=36094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=36094"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=36094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}