{
  "title": "Burundi: Request for Modification of Nonconcessional External Debt Limit Under the Extended Credit Facility",
  "publication": "IMF Staff Country Reports, November 3, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/burundi-request-for-modification-of-nonconcessional-external-debt-limit-under-the-extended-25327",
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  "summary": "The Burundian government has requested a modification of the zero limit on nonconcessional external debt in the country’s arrangement under the Extended Credit Facility (ECF). It has sought to increase the grant element of the financing for the hydroelectric plant.",
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    {
      "heading": "Request summary",
      "content": "- 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).\n- The request seeks to increase the grant element of the financing for the hydroelectric plant."
    },
    {
      "heading": "Executive Directors' view and rationale",
      "content": "- Executive Directors support the request.\n- Rationale: The benefits of the hydroelectric plant outweigh the additional risk arising from the proposed line of credit.\n- Expected outcome: Help Burundi increase its electricity generation capacity significantly.\n- Identified constraint: Electricity generation capacity has been identified by both donors and businesses as the major constraint to growth."
    },
    {
      "heading": "Policy implications and subjects covered",
      "content": "- Subjects: External debt; Financial institutions; Fiscal policy; Fiscal stance; Lines of credit; Public and publicly-guaranteed external debt; Public debt.\n- 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.\n\n---\n\n Content in this bundle\n\n- cr11315\n  - cr11315 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr11315 (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr11315f\n  - cr11315f (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr11315f (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 3, 2011",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781463923884.002",
    "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 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.",
    "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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