WASHINGTON (Reuters) – Chad has officially requested a debt restructuring, the first country to do so under a new common framework agreed by Group of 20 major economies last year, the International Monetary Fund said on Wednesday.
The IMF said its staff had completed talks with Chad on a new medium-term financing program worth about $560 million under its Extended Credit Facility and the Extended Fund Facility. The deal must still be approved by the IMFs executive board.
Like several other African countries, Chad is struggling with a high debt burden against a backd…
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