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Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484323386
Category : Business & Economics
Languages : en
Pages : 100
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Book Description
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.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484323386
Category : Business & Economics
Languages : en
Pages : 100
Get Book
Book Description
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.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455204366
Category : Business & Economics
Languages : en
Pages : 79
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Book Description
This paper discusses key findings of the Seventh Review Under the Policy Support Instrument (PSI) for Uganda. The medium-term outlook for Uganda remains favorable but risks are on the rise. Growth is expected to rebound to its potential in the coming two years on the heels of a supportive fiscal stance and higher global and regional growth. It remains vulnerable to exogenous shocks as well as to election-related uncertainties. IMF staff supports the authorities’ request for a new three-year PSI to anchor their near- and medium-term policies.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484338081
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
This paper discusses Rwanda’s Eighth Review Under the Policy Support Instrument (PSI) and Request for Extension, and Third Review Under the Standby Credit Facility (SCF). The existing PSI and SCF arrangement have supported Rwanda’s efforts to address external imbalances, thereby supporting continued strong growth and durable poverty reduction. The SCF arrangement added a financing component to the existing PSI-supported program, which aims to promote private-sector led growth through safeguarding macroeconomic stability, including through external sustainability, fiscal sustainability based on continued improvements in domestic resource collection, low and stable inflation, and enhancing access to credit and deepening the financial sector.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475504675
Category : Business & Economics
Languages : en
Pages : 87
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Book Description
The Rwandan economy continued to grow strongly in 2011, and significant progress in poverty reduction has been achieved. The Fourth Review Under the Policy Support Instrument (PSI) highlights that the fiscal framework for 2012/13 is in line with the main objectives of the PSI, and the authorities are committed to delay non-priority spending rather than resort to additional domestic financing if revenue collections fall short of target. Efforts are ongoing to further strengthen public financial management and enhance revenue administration.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1475556799
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
Rwanda has responded to lower aid by tightening policies and drawing on its foreign reserves to cushion the impact on the economy. Economic activity has been resilient despite lower aid inflows. The agreed framework for the FY2013/14 budget is in line with Policy Support Instrument (PSI) objectives. The government’s intention to develop a comprehensive plan for enhancing domestic revenue mobilization over the medium term is timely. Rwanda’s new poverty reduction strategy (EDPRS2) and the commitment to tighten the monetary stance while allowing greater exchange rate flexibility is encouraging.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455294713
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Based on the economic developments and policies of Rwanda, the staff’s report was prepared. The rising global food and fuel prices have begun to elevate inflationary shares. The authorities are streamlining expenditures and introducing further reforms in revenue administration and public financial management (PFM). Structural reforms in the financial sector and monetary policy have been introduced. The new exchange rate management framework also enhanced monetary policy implementation. The overall fiscal deficit is programmed to be higher than projected by 1⁄2 percent of GDP.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455207632
Category : Business & Economics
Languages : en
Pages : 107
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Book Description
Rwanda has achieved high growth and macroeconomic stability under three successive Poverty Reduction Growth Facility (PRGF) arrangements. Executive Directors welcomed the new Private Sector Investment (PSI) program, which aims to consolidate macroeconomic stability and achieve sustained broad-based growth while reducing Rwanda’s aid dependency. They emphasized that this can be achieved by maintaining sustainable fiscal position, strengthening monetary and exchange rate policies, and supporting growth with structural reforms. In view of this, Directors approved a three-year PSI for Rwanda for preserving macroeconomic stability, consistent with the authority's poverty reduction and growth strategy, Economic Development and Poverty Reduction Strategy (EDPRS).
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484387260
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
This is the tenth and final review of Rwanda’s PSI-program, approved by the Executive Board on December 2, 2013. A concurrent 18-month SCF arrangement was approved on June 8, 2016 to support adjustment policies to eliminate external imbalances. The PSI-supported program was extended three times, on: June 8, 2016; November 19, 2017; and January 12, 2018. When it expires on December 1, 2018, the program will have reached its maximum 5-year limit. Recent Developments. After a dip in 2016–17, real GDP growth has been recovering over the past four quarters. Growth averaged 8.6 percent in the first half of 2018 and, despite a temporary deceleration in Q2, remains in line with projections for 7.2 percent for the year. Growth in the medium term should remain at or higher than historical averages, based on a strong pipeline of tourism and business tourism, new mining operations, more resilient agriculture, new and more diversified exports, and construction of a new airport. Inflation remains low, and expectations within targeted ranges. External balances and reserve buffers continued to improve, while the financial sector remains healthy.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513595393
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This paper discusses Rwanda’s Third Review Under the Policy Support Instrument (PSI). Rwanda’s performance under the PSI has been satisfactory. The authorities are to be commended for meeting all quantitative assessment criteria. The performance on indicative targets and structural benchmarks was uneven, and it will be important to maintain the momentum of reforms, including on revenue mobilization while strengthening project implementation. Growth in 2015 is expected to remain strong, while the outlook is stable. The cautious fiscal stance and monetary policy are consistent with the need to preserve policy buffers.
Author: International Monetary Fund. African Dept. Staff
Publisher: International Monetary Fund
ISBN: 1475595158
Category :
Languages : pt-BR
Pages : 130
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Book Description
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
