• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Chad hopes for ‘favourable opinion’ from Glencore on debt restructuring

September 9, 2021 by David Barret Leave a Comment

September 9, 2021

By Mahamat Ramadane

N’DJAMENA (Reuters) – Unable to honour internal debt commitments, authorities in Chad are hoping for a “favourable opinion” from Glencore Plc on restructuring the country’s commercial debt, Prime Minister Albert Pahimi Padacke said on Thursday.

“Glencore represents for Chad today more than 98% of the country’s commercial debt,” Padacke said during a news conference. “We need to renegotiate things because we have a serious cash flow problem.”

Chad officially requested a restructuring of its public debt back in January, the first country to do so under a new framework agreed by Group of 20 (G20) major economies last year.

The International Monetary Fund on Tuesday said it was crucial for Chad to come to comparable terms with its private creditors, the largest of which is Glencore.

Authorities in Chad have met Glencore four times to discuss a restructuring deal that would fall within the G20 framework and are awaiting the company’s decision, Padacke said.

“We are hopeful that the company will agree because all partners are waiting for Glencore’s decision,” Padacke said. “When you are in debt, the creditor always has the last word.”

A Glencore spokesperson declined to comment.

(Reporting by Mahamat Ramadane; Writing by Cooper Inveen; Editing by Jon Boyle, William Maclean)

Source Link Chad hopes for ‘favourable opinion’ from Glencore on debt restructuring

David Barret
David Barret

Related posts:

  1. Hackers are hiring more English speakers to write believable email scams
  2. JBL Quantum 350 looks like a great affordable wireless gaming headset
  3. Canada trade surplus narrowed in July to C$778 million
  4. Life insurers shift to pre-pandemic norms after COVID vaccine roll-outs

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • What Food Did Neanderthals Eat? The Real “Paleodiet” Wasn’t As Meaty As You Imagine
  • Typhoon Tip: The Largest Storm Ever Could Have Swallowed Half Of The Continental US
  • Is Acrylamide Really Bad For You?
  • Macaws Learn From Watching Other Macaws Interact – A Kind Of Imitation We Thought Was Unique To Humans
  • “Volnado” Dances Around Spectacular Lava Fountain In Kīlauea Volcano Crater
  • “Impossible To Imagine”: Queen Ants Produce Babies Of 2 Different Species, And It’s Never Been Seen Before
  • It Turns Out Bending Ice Produces Electricity, And This Could Finally Explain The Origin Of Lightning
  • Putin And Xi Want To Achieve Immortality With Organ Transplants. Could They?
  • Love Leaf Peeping? Here’s The Best Places To Photograph Foliage In The US This Fall
  • What Happened During Flat-Earthers’ “Final Experiment” In Antarctica
  • “We’re Insisting That Brain Death Is Something That It Isn’t” – How Do We Determine Death?
  • Homo Naledi May Have Buried Its Dead After All, Peer Reviewer Accepts
  • Bathroom Scrollers Beware! Phone Use On The Toilet Could Up Your Risk Of Hemorrhoids By 46 Percent
  • Marsquakes Reveal A Solid Inner Core In The Red Planet
  • For The First Time Ever We Have A Complete Map Of Brain Activity, And It’s Dazzling
  • This Very Strange Fish Has Clear Blood And Is The Only Known Vertebrate To Lack Hemoglobin
  • Government Warning Uses AI Video To Show What Will Happen To Tokyo If Mount Fuji Erupts
  • Astonishing Restored Photos Show NASA’s Pre-Apollo Missions In All Their Glory
  • How To Get More IFLScience: Add Us As A “Preferred Source” On Google
  • “This Appears To Be A Universal Law”: 50-Year-Old Mystery About Our Sun’s Storms May Have Been Solved
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version