Mali has become the first African country to obtain a moratorium from the Paris Club after the G20 decision to suspend debt service this year, the French Finance Ministry said Tuesday, May 19. The Paris Club brings together about twenty countries, international creditors, and aims to find coordinated and sustainable solutions to the payment difficulties of indebted countries. Three other countries have been granted this moratorium: Nepal, Grenada and the Dominican Republic, while 77 are eligible, including 41 of the 49 sub-Saharan African countries which should repay 19 billion dollars this year. The sums not paid in 2020 will be spread over three years starting in 2022, according to Agence France Presse.
About Geraldine Boechat 2242 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia