{
  "title": "Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument",
  "publication": "IMF Staff Country Reports, December 20, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/rwanda-seventh-review-under-the-policy-support-instrument-request-for-a-three-year-policy-41163",
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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.",
  "sections": [
    {
      "heading": "Summary and overall assessment",
      "content": "- Progress under the Policy Support Instrument (PSI) has continued to be satisfactory.\n- Except for the ceiling on nonconcessional borrowing (NCB), all quantitative assessment criteria were met.\n- All indicative targets and structural benchmarks were met.\n- The IMF staff recommends a waiver for the nonobservance of the NCB ceiling on the basis of the authorities’ commitment to prevent any reoccurrence."
    },
    {
      "heading": "Nonconcessional borrowing incident",
      "content": "- The nonobservance of the NCB ceiling occurred when the authorities allowed Rwandair to contract a new US$50.7 million external loan in July.\n- IMF staff response: recommendation of a waiver given the authorities’ commitment to prevent reoccurrence."
    },
    {
      "heading": "Policy implications and staff action",
      "content": "- IMF staff recommends a waiver for the single missed quantitative criterion (NCB ceiling) based on commitments from Rwandan authorities.\n- Request included for a Three-Year PSI and cancellation of the current PSI (title reflects both the Seventh Review and the request/cancellation actions)."
    },
    {
      "heading": "Publication metadata and identifiers",
      "content": "- Date: December 20, 2013\n- Pages: 100\n- Volume: 2013\n- Issue: 372\n- Series: Country Report No. 2013/372\n- DOI: https://doi.org/10.5089/9781484323380.002\n- Stock No: 1RWAEA2013005\n- ISBN: 9781484323380\n- ISSN: 1934-7685"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Financial institutions, Loans, Monetary base, Money, Poverty, Poverty reduction strategy, Public financial management (PFM), Revenue administration\n- 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\n\nInternational 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).\n\n---\n\n Content in this bundle\n\n- cr13372\n  - cr13372 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr13372 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 20, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484323380.002",
    "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.",
    "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.",
    "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).",
    "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: 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",
    "**_cr13372**"
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