Chad asks Glencore for debt payment suspension
Move could affect more than $100m in payments in 2020
Abuja/Abidjan — Chad has asked Glencore to suspend payments on its oil-for-cash loan this year, a move that could prove a precedent for private creditors worried about being dragged into a global debt-relief push for poor countries.
After securing a $61m debt waiver in June, sponsored by the Group of 20, the central African nation sent a letter to the world’s biggest commodity trader and other private lenders, asking them to allow debt freezes, according to two people familiar with the matter. This would suspend more than $100m in payments in 2020, according to the IMF...