April 14, 2018 / 12:47 PM / 5 months ago

IMF resumes lending to Chad following Glencore debt deal

DAKAR (Reuters) - The International Monetary Fund said it is resuming loan disbursements to Chad after the Central African oil producer reached an agreement in principal to restructure its more than $1 billion debt to Glencore (GLEN.L) and four banks.

FILE PHOTO: International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the IMF/World Bank annual meetings in Washington, U.S., October 14, 2017. REUTERS/Yuri Gripas

The IMF also said in a statement late on Friday that it expects Chad’s economy to grow by 3.5 percent this year, after it contracted by 3.1 percent last year, assuming the terms of the February agreement with its lenders are implemented.

Reporting by Aaron Ross; editing by Jason Neely

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