IMF: Chad's bilateral creditors to improve debt relief offer if needed
Chad's official bilateral creditors will make up any shortfall in commitments from its private lenders to a plan to cut the country's debt servicing costs if those costs become unmanageable, the International Monetary Fund (IMF) said. The official creditors - China, France, Saudi Arabia and India - are expected to sign a Memorandum of Understanding on a debt agreement for the oil-rich, central African nation in coming days, the IMF said in a report released late on Thursday. In November Chad reached an agreement, first reported by Reuters, with creditors also including Swiss commodities trader Glencore, paving the way for more IMF funding but stopping short of reducing the country's $2.9 billion in external debt.
