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Find all the economic and financial information on our Orishas Direct application to download on Play StoreOn Sunday, November 13, 2022, the head of the International Monetary Fund (IMF) said he would reduce the risk of the African country's over-indebtedness while protecting it against the risks of falling oil prices. He therefore welcomed the debt agreement expected by Chad's creditors and finally signed.
The debt treatment agreed by the creditors was in line with the objectives of the Chadian program supported by the IMF, according to Kristalina Georgieva, the managing director of the International Monetary Fund in a press release. This agreement should pave the way for the completion of the first and second reviews that would allow the disbursement of IMF funds.
Chad had reached a debt agreement with the Swiss commodity trader Glencore Plc and other creditors according to its own statement on Friday, November 11, 2022. According to some sources, this agreement provided for debt relief in 2024 in the form of a reprofiled debt service schedule, but would not reduce Chad's overall debt level.
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