CDB suspends debt service payments from Government of Myanmar in 2020 (Linked to Project ID#98031)

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 Development Bank and the Government of Myanmar signed a debt suspension agreement. Under the terms of the agreement, the lender agreed to suspend principal and interest payments due between May 1, 2020 and December 31, 2020 under 5 loan agreements. The total estimated suspension amount is unknown.

Additional details

1. The debt suspension agreement with CDB is documented in the Government of Myanmar’s Annual Government Debt Reports, which can be accessed via https://treasury.gov.mm/mm/Annual%20Report/5?language=eng and https://www.dropbox.com/s/l4y62ftatlyf5ik/2020-2021%20Fiscal%20Year%2C%20Annual%20Government%20Debt%20Report.pdf?dl=0 and https://www.dropbox.com/s/gw4ansfleditxkn/2019-2020%20Fiscal%20Year%2C%20Annual%20Government%20Debt%20Report.pdf?dl=0 and https://www.dropbox.com/s/9jxog87dmzfsfgw/Government%20Debt%20Report%20for%20FY%2019-20%20V%20Final%20%2821-12-2021%29.pdf?dl=0.

Number of official sources

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Number of total sources

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