By the end of 2016, Glencore held 98 per cent of Chad’s external commercial debt. Eighty-five per cent of Chad’s oil proceeds – its primary source of revenue – was directed towards paying Glencore back.
3 Mustapha S. and Prizzon A., “Africa’s rising debt – How to avoid a new crisis”, October 2018  Page 2 of 4  large amount of these Eurobonds are set to mature in 2019-2020 and in 2024-2025, which may pose substantial refinancing risks in the foreseeable future, especially if countries’ fiscal positions remain weak4.