Rwanda on Track to Meet Its Debt Obligations, Says Finance Minister

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Rwanda on Track to Meet Its Debt Obligations, Says Finance Minister NewTimesRwanda: Rwanda

One of the strategies that the country put in place is to target concessional loans that provide substantial grace periods within long term payment periods.

The loans have significantly low-interest rates and long grace periods with the possibility of revising terms further. The recently approved national budget of Rwf4.6 trillion for the fiscal year 2022/2023 that starts July 1, represents an increase of Rwf217.8 billion, or 4.9 percent from the Rwf4.4 Trillion revised budget of 2021/22 fiscal year.

Despite the fact that the country is still grappling with Covid-19 impacts, spill overs from Russia-Ukraine war impact, as well as inflation, the budget's external borrowings continue to gradually decline.

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