Libya reschedules debt repayment for Seychelles, Nicaragua, Montenegro

Libya reschedules debt repayment for Seychelles, Nicaragua, Montenegro
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By bne IntelliNews October 17, 2022

The Libyan government will launch a rescheduling debt repayment process for the Seychelles, Nicaragua, and Montenegro, finance minister Khaled Mabruk said on October 15, on the margins of the World Bank /IMF meetings in Washington, DC.

Seychelles is to repay its $4.5mn loan within a maximum period of one year, Montenegro signed a settlement agreement to repay its $4mn credit facility before the end of the year. Nicaragua has rescheduled its debt to Libya in equal semi-annual instalments.

In recent years, as an increasing number of countries have faced balance-of-payments problems and debt-servicing difficulties, there has been a sharp increase in rescheduling, the IMF noted on its website. 

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