IMF Gives Rwanda $16 million debt Relief
Rwanda is set to benefit
from a $16.9 million debt service relief from the International Monetary Fund
(IMF) for an initial period of six months, the Fund has said.
This is the second debt service relief to Rwanda by
IMF. It is part of the Fund’s efforts to pause collection of debts from a
number of countries to help them deal with the impact of the Covid-19
pandemic.
By not servicing its debt obligation for several months, Rwanda will
have more capital available to invest in affected sectors of the economy as
well as improve capacity to respond to the pandemic.
The $16.9 million would have been paid in servicing debt owed to the IMF
for six months from October 14, 2020 to April 13, 2021.
Subject to the availability of resources, debt service relief could ...
