Political turmoil in Chad has cast doubt over the Central African oil producer’s efforts to agree relief on its nearly $3 billion debt burden, widely seen as a test case for a global plan to help the world’s most indebted countries.
Six months ago, the Group of 20 (G20) major economies launched a common framework designed to help governments to overhaul the debt they owe to official and commercial creditors after the COVID-19 crisis sent the burdens of many developing countries spiralling.
The plan aims to offer a long-term fix rather than the temporary relief of an earlier 2020 debt service suspension initiative (DSSI).
However, ratings agencies warned that doing so could lead to downgrades and only three countries – Zambia, Ethiopia and…
Read the full article at: https://www.reuters.com/world/africa/chad-unrest-casts-pall-over-debt-deal-global-relief-push-2021-05-05/
