Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument
IMF Staff Country Reports, December 20, 2013
Source details
- Canonical URL
- Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument
Other formats
Bibliographic details
- Published: December 20, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484323380.002
Summary and overall assessment
- Progress under the Policy Support Instrument (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 met.
- The IMF staff recommends a waiver for the nonobservance of the NCB ceiling on the basis of the authorities’ commitment to prevent any reoccurrence.
Nonconcessional borrowing incident
- The nonobservance of the NCB ceiling occurred when the authorities allowed Rwandair to contract a new US$50.7 million external loan in July.
- IMF staff response: recommendation of a waiver given the authorities’ commitment to prevent reoccurrence.
Policy implications and staff action
- IMF staff recommends a waiver for the single missed quantitative criterion (NCB ceiling) based on commitments from Rwandan authorities.
- Request included for a Three-Year PSI and cancellation of the current PSI (title reflects both the Seventh Review and the request/cancellation actions).
Publication metadata and identifiers
- Date: December 20, 2013
- Pages: 100
- Volume: 2013
- Issue: 372
- Series: Country Report No. 2013/372
- DOI: https://doi.org/10.5089/9781484323380.002
- Stock No: 1RWAEA2013005
- ISBN: 9781484323380
- ISSN: 1934-7685
Subjects and keywords
- Subjects: Financial institutions, Loans, Monetary base, Money, Poverty, Poverty reduction strategy, Public financial management (PFM), Revenue administration
- Keywords: CR, Global, government, government's effort, ISCR, Loans, Monetary base, policy, policy dialogue, policy priority, Poverty reduction strategy, PSI program, Rwandan authorities, sound policymaking, Sub-Saharan Africa
International Monetary Fund. Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument (IMF Staff Country Reports 2013, 372).