Rwanda: Second and Third Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Request for Additional Interim Assistance Under the Enhanced HIPC Initiative

IMF Staff Country Reports, August 20, 2004

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Canonical URL: Rwanda: Second and Third Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Request for Additional Interim Assistance Under the Enhanced HIPC Initiative

Rwanda’s Second and Third Reviews under the Poverty Reduction and Growth Facility, and request for Waiver of Performance Criteria are discussed.
After an extended period characterized by a strong expansion of economic activity, real GDP growth is estimated by IMF staff to have slowed to 0.9 percent in 2003.
On the structural side, performance criteria on the revision of the tax law and preparation of the financial instructions for more effective expenditure management have been met.

Real GDP growth: 0.9 percent in 2003.
Characterization: An extended period of strong expansion of economic activity preceded the slowdown.

Performance criteria met:
- Revision of the tax law.
- Preparation of the financial instructions for more effective expenditure management.

Requests discussed:
- Request for Waiver of Performance Criteria.
- Request for Additional Interim Assistance Under the Enhanced HIPC Initiative.
Program: Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF).

Subject: Commercial banks, Expenditure, External debt, Financial institutions, Monetary base, Money, Poverty, Poverty reduction strategy
Keywords: Africa, commercial bank bank reserves, Commercial banks, CR, due diligence study, government, investor bid, ISCR, Monetary base, Poverty reduction strategy, PRGF arrangement, PRGF loan, Rwandese authorities