The implementation of the Debt Service Suspension Initiative (DSSI) for the poorest countries vulnerable to the impact of the Covid-19 pandemic, extended from 1 July to 31 December 2021, is progressing well, the Paris Club announced on 3 November.
On this occasion, the organisation reiterated its commitment to the G20/Paris Club common debt framework.
To date, of the 32 eligible countries that have applied for the final extension of the DSSI initiative, 19 have already signed a Memorandum of Understanding with the Paris Club.
These countries are: Angola, Burkina Faso, Cape Verde, Cameroon, Republic of Congo, Djibouti, Dominica, Fiji, Kenya, Kyrgyz Republic, Maldives, Mali, Mauritania, Mozambique, Nepal, Pakistan, Saint Vincent and the Grenadines, Samoa and Zambia.
With regard to Cape Verde, Portugal, which is not a member of the Paris Club, has signed the memoranda of understanding jointly with Paris Club creditors for the implementation of the extension of the initiative.
For these 19 beneficiary countries, the total amount deferred by Paris Club creditors through the final extension of the DSSI is approximately US$1 billion.
Paris Club creditors have deferred a total of US$4.5 billion for 42 countries since May 2020.
They reiterate their strong commitment to the continued implementation of the common framework for all claimant countries with vulnerable debt. To date, three countries have formally applied for the Common Framework (Chad, Ethiopia and Zambia), the Paris Club says.
No country has yet received debt relief since the adoption of the Common Debt Framework just one year ago. (Original version in French by Aminata Niang)