The Paris Club, which brings together the largest creditors in the world except China, in a note published on September 1, 2020 on the progress of the implementation of the debt suspension, announced that it had suspended until the end of the year, the payment of the debt of 28 developing States including Togo.

The total amount of maturities initially due in 2020 thus deferred represents approximately 1.8 billion USD. Adding the carry-over of pre-existing arrears at the G20 initiative, the total reaches USD 2.1 billion.

These funds, which should be reimbursed to creditors during this year 2020, will be used by the beneficiaries in the fight against covid-19. “Compared to our forecasts from last April when we launched the initiative of the moratorium on the debt of poor countries, we are close to the potential of realization”, indicated Odile Renaud-Basso, President of the Club of Paris.

Countries in the WAEMU zone which had a debt of USD 2.47 billion to the Paris Club at the end of 2019, except for Guinea Bissau and Benin, all benefited from the suspension of the repayment of their debt.