AFRODAD in partnership with the Reflection and Orientation Circle on the Sustainability of the Chadian
Economy (CROSET) hosted a high level advocacy workshop on the management of public debt recently in N’Djamena, Chad. This workshop drew expertise from various Civil Society Organisations (CSOs), economic bodies namely the Audit Bench of the Supreme Court, the National Assembly Finance, Budget and Public Accounting Committees, representation from the Ministry of Economy and Development Planning and the Ministry of Finance and Budget as well as the private sector in Chad.
This workshop was placed under the high patronage of the President of the Chamber of Accounts of the Supreme Court Madam Zara Brahim Itno whom in a keynote address noted “the time is now ripe for African countries including Chad to move away from debt bondage”, which she denoted to have caused so much distress to government’s ability to provide public services to the populace of Chad.
“Our country has been debt – burdened from a while now with most of our resources being diverted from much needed spending in areas such as health, education, and infrastructure. There is need for Chad to learn and adopt effective public debt management best practices from organisations like AFRODAD that will help reduce Chad’s financial vulnerabilities, said Mme Itno.The overall objective of the advocacy meeting was to provide a platform for debt management stakeholders to promote mutual learning and knowledge exchanges based on the Chadian experience and to enable participants to explore means to enrich the country’s debt management strategies.
Because Chad is still considered by IMF assessment to be at a high risk of debt distress the country is currently going through a period of massive macroeconomic restructuring which involves a lot of programming that demand large spending and financing needs. As AFRODAD and like minded organisations like CROSET, we are doing the best we can through advocacy initiatives to help countries like Chad to effectively manage their debt as they strive towards sustainable development.
AFRODAD received the commitment from CSOs, the government and other stakeholders to participate and strengthen inclusive and transparent public loan contraction processes.