Project ID: 97764

China Eximbank suspends debt service payments from Government of Djibouti in 2020

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Djibouti

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2020-01-01

Description

In response to the COVID-19 pandemic and the G20 Finance Ministers and Central Bank Governors meeting that took place on April 15, 2020, and on November 13, 2020, the Chinese Government agreed to work with other G20 members to implement the Debt Service Suspension Initiative (DSSI). Then, in 2020, China Eximbank and the Government of Djibouti signed a debt suspension agreement. Under the terms of the agreement, the lender agreed to suspend principal and interest payments due in 2020 under one or more loan agreements.

Additional details

1. It is unclear why the DSSI debt service deferral data published by the World Bank (https://datatopics.worldbank.org/dssitables/deferrals/annual/DJI) do not identify any debt service deferrals from Chinese creditors. This issue warrants further investigation.

Number of official sources

4

Number of total sources

9

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Djibouti [Government Agency]

Loan Details