Chad negotiations under Common Framework moving on
I hope this message finds you well.
As you might have seen in the press, Chad's negotiations under the Common Framework seem to be moving forward on the bilateral side ... turn for the private creditors now! (see Reuter's coverage)
- Here's the Paris Club press release informing of the 4th meeting of the bilateral Creditor Committee. It seems they've reached an agreement and are happy with the IMF program, and ask private creditors to offer now comparable terms to what the bilaterals have agreed (obviously the terms of the debt restructuring offered by the bilaterals to Chad remain unknown).
- Here's the IMF press release on the same issue, calling the Creditor Committee for private creditors to negotiate debt treatments with Chad on comparable terms "without delay". This is a condition for the IMF Executive Board to approve the IMF program with Chad. The World Bank is also happy about these steps and commits to US$1.4billion to Chad in next 10 years in grants and concessional financing.
I hope this is useful. Let us know if you have more information or you catch any private creditor reaction on this.