© Reuters. International Monetary Fund Managing Director Kristalina Georgieva attends the COP27 climate summit in Sharm el-Sheikh, Egypt November 9, 2022. REUTERS/Thaier Al-Sudani
WASHINGTON (Reuters) – The head of the International Monetary Fund on Sunday welcomed a deal reached by Chad’s creditors and said it would reduce the risk of debt distress and protected the central African country against downside risks, including lower oil prices.
“We have been waiting for this day,” IMF Managing Director Kristalina Georgieva said in a statement.
She said the debt treatment agreed by the creditors was consistent with the objectives of Chad’s IMF-supported program, and should pave the way for completion of the first and second reviews that would enable disbursement of IMF funds.