Burundi: Request for Modification of Nonconcessional External Debt Limit Under the Extended Credit Facility
IMF Staff Country Reports, November 3, 2011
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- Burundi: Request for Modification of Nonconcessional External Debt Limit Under the Extended Credit Facility
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Bibliographic details
- Published: November 3, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463923884.002
Request summary
- The Burundian government requested a modification of the zero limit on nonconcessional external debt in the country’s arrangement under the Extended Credit Facility (ECF).
- The request seeks to increase the grant element of the financing for the hydroelectric plant.
Executive Directors' view and rationale
- Executive Directors support the request.
- Rationale: The benefits of the hydroelectric plant outweigh the additional risk arising from the proposed line of credit.
- Expected outcome: Help Burundi increase its electricity generation capacity significantly.
- Identified constraint: Electricity generation capacity has been identified by both donors and businesses as the major constraint to growth.
Policy implications and subjects covered
- Subjects: External debt; Financial institutions; Fiscal policy; Fiscal stance; Lines of credit; Public and publicly-guaranteed external debt; Public debt.
- Keywords: CR, creating flow, current account, debt ratio, debt service-to-revenue, debt stock, exchange rate, Fiscal stance, grant element, ISCR, Lines of credit, PPG debt, Public and publicly-guaranteed external debt, service-to-revenue ratio, sustainability framework.
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