A creditor committee for Chad formed by China, France, India and Saudi Arabia and co-chaired by France and Saudi Arabia met virtually on September 13 and September 27 in presence of IMF and World Bank staff to examine the latest developments on the macroeconomic and financial situation of the central African country. The committee noted that no debt relief from official bilateral creditors is currently needed given the surge in oil prices since the approval of the IMF upper credit tranche (UCT) program on December 10, 2021. The creditor committee committed to reconvene and address the need for debt treatment if a financing gap is identified, in accordance with the “Common Framework for Debt Treatment beyond the DSSI”. For that purpose, the creditor committee is finalizing a Memorandum of Understanding (MoU). The creditor committee reiterated that the Chadian authorities will be expected to seek from all private and other official bilateral creditors debt treatments on terms as favorable as those implemented by the creditor committee should a debt treatment be necessary. The creditor committee welcomed the Multilateral Development Banks (MDBs)’s support for Chad’s development and encouraged them to maximize their support to meet Chad’s long-term financial needs. The creditor committee urged the largest private external creditor to reaffirm its commitment to provide debt treatment during the IMF program should a financing gap be identified, consistent with the approach for the creditor committee, on terms at least as favorable as those agreed by the creditor committee members. It also urged the largest private external creditor to address the remaining debt vulnerabilities that result from its acceleration of repayment mechanism. — SG