The Paris Club: Mali benefits from debt service suspension initiative
Under the report card on the Debt Service Suspension Initiative (ISSD) also approved by the G20, the Paris Club has recognised that the Republic of Mali is eligible to benefit from the initiative. As a result, representatives of the Paris Club creditor countries have agreed to grant the Republic of Mali a fixed-term suspension of debt service from May 1 to December 31, 2020.
The Government of the Republic of Mali has committed to devote the resources freed up by this initiative to increasing spending to mitigate the health, economic and social impact of the COVID crisis19. The Government of the Republic of Mali has also pledged to ask all its other bilateral official creditors for debt service treatment in accordance with the approved record.
This initiative will also help the Republic of Mali improve transparency and debt management.
The Paris Club creditors will continue to coordinate closely with other stakeholders during the implementation phase of this initiative, particularly when considering a possible extension of the suspension period.