Rwanda: Seventh Review Under the Policy Support Instrument, Request for a Three-Year Policy Support Instrument and Cancellation of Current Policy Support Instrument

International Monetary Fund

No 2013/372, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. Except for the ceiling on nonconcessional borrowing (NCB), all quantitative assessment criteria were met. All indicative targets and structural benchmarks were also met. The nonobservance of the NCB ceiling came about when the authorities allowed Rwandair to contract a new US$50.7 million external loan in July. Presently, the IMF staff recommends a waiver on the basis of the authorities’ commitment to prevent any reoccurrence.

Keywords: ISCR; CR; government; policy; policy dialogue; Rwandan authorities; sound policymaking; policy priority; PSI program; government's effort; Poverty reduction strategy; Loans; Monetary base; Global; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 100
Date: 2013-12-20
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