IMF Staff Country Reports

Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument

Publication Date:

December 20, 2013

Electronic Access:

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Summary:

This paper discusses Rwanda’s Seventh Review Under the Policy Support Instrument (PSI), Request for a Three-Year PSI and Cancellation of Current PSI. Progress under the PSI has continued to be satisfactory. Except for the ceiling on nonconcessional borrowing (NCB), all quantitative assessment criteria were met. All indicative targets and structural benchmarks were also met. The nonobservance of the NCB ceiling came about when the authorities allowed Rwandair to contract a new US$50.7 million external loan in July. Presently, the IMF staff recommends a waiver on the basis of the authorities’ commitment to prevent any reoccurrence.

Series:

Country Report No. 2013/372

Subject:

Financial institutions Loans Monetary base Money Poverty Poverty reduction strategy Public financial management (PFM) Revenue administration