Saudi Arabia Co-Chairs Creditors Committee Meeting on Chad’s Debts Restructure

Co-chaired by the Kingdom of Saudi Arabia (represented by the Ministry of Finance) and France, the Chad Creditors Committee has held a virtual meeting on Wednesday, December 22, 2021, to discuss the restructure of Chad’s debt, under the new joint under the new Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative with the participation of China, France and India.

The meeting has been held in the presence of officials from the International Monetary Fund and the World Bank.

The joint framework, agreed upon by the leaders during the Kingdom of Saudi Arabia’s presidency of G20, and also endorsed by Paris Club, aims to facilitate debt processing for eligible countries to benefit in an orderly manner and as quickly as possible with the broad participation of creditors, and in consideration of each case separately.

A joint statement was issued by the meeting as follows:

Statement of the Chad Creditors Committee meeting under the Joint Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative

The Chad Creditors Committee formed by the Kingdom of Saudi Arabia, China, France and India, co-chaired by Saudi Arabia and France, has held a virtual meeting on Wednesday, 22 December 2021 in the presence of officials From the International Monetary Fund and the World Bank.

The Creditors Committee welcomed the Executive Board’s approval of the IMF’s UCT Program on December 10, 2021. The Creditors Committee’s June statement was critical, and the IMF Executive Board’s approval of the Chad Program would address Chad’s immediate financing needs.

The Creditors Committee encourages the multilateral development banks to provide rapid financial support to the Republic of Chad in order to meet its long-term financial needs.