Chad and three other African countries will benefit from a debt moratorium. This announcement was made on June 9 by the Paris Club, which brings together all of the western countries holding most of the debts of developing countries.
“The representatives of the Paris Club creditor countries have agreed to grant” to these countries a “suspension of debt service for a fixed period, from May 1 to December 31, 2020. Among the four countries benefiting from the moratorium, three are African: Ethiopia, Chad and the Republic of Congo. The fourth is Pakistan.
It should be noted that only debts contracted with the Western States, such as France, the United States or Germany, and emerging States such as China, India or South Africa, are affected. Private creditors, businesses and fund managers still refuse to join this initiative.
Chad is therefore among the first African countries to benefit from this moratorium. He will not have to pay the deadlines this year, but will have to do so within three years.
