Chad creditors including Glencore poised to sign debt relief plan

Chad’s official creditors are expected to agree on Wednesday to a debt restructuring strategy that includes contingencies based on oil prices and participation of private creditor Glencore, a person familiar with the plans said.

Chad, the first country to ask for a debt deal under the framework, struck an initial agreement with creditor nations in June 2021, but has struggled to finalise talks with Glencore and other private creditors. The country owes one-third of its external debt to commercial creditors, and almost all of that to Glencore in oil-for-cash deals dating back to 2013 and 2014.

“The strategy is to put out a contingent strategy that will give Glencore an incentive to join in,” said the source, noting that the company had not yet agreed to the terms of the deal and it was unclear if it would join in.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IMF's Georgieva says Chad, Ethiopia, Zambia creditor committees to meet soonCreditor committees for the debt restructurings of Chad, Ethiopia and Zambia are expected to meet within the next 10 days, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday.
Source: ReutersAfrica - 🏆 31. / 53 Read more »

IMF's Georgieva says Chad, Ethiopia, Zambia creditor committees to meet soonCreditor committees for the debt restructurings of Chad, Ethiopia and Zambia are expected to meet within the next 10 days, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday.
Source: ReutersAfrica - 🏆 31. / 53 Read more »

Zambia finance minister says second meeting with creditors likely this monthZambian finance minister Situmbeko Musokotwane said on Tuesday that a second meeting with official creditors to try to resolve the country's debt crisis was likely to be held this month.
Source: ReutersAfrica - 🏆 31. / 53 Read more »