Rwanda’s Minister for Finance and Economic Planning, Uzziel Ndagijimana has said country’s loans are manageable to the extent cannot put Rwanda in economic problems in days to come.
Ndagijimana remarked while speaking to journalists yesterday after meeting between Premier Dr Edouard Ngirente and Mohamed-Lemine Raghani, International Monetary Fund’s Executive Director for the Africa II Group.
Speaking about what transpired in the meeting between Raghani and the PM Ngirente, Uzziel Ndagijimana said that the IMF welcomed how the Rwandan economy was performing, especially efforts put into elevating the contribution of local resources towards the national budget.
Ndagijimana said that Rwanda was ready to work with the IMF in the coming years to, among other things, continue raising the local capacity for greater self-reliance so that “the loans we get will not put the country in trouble”.
Meanwhile, Rwanda’s debt remains relatively low with a present value of debt to GDP at 32.9 per cent against a threshold of 50 per cent.
The share of concessional loans in the total debt stock stood at 63 per cent as of end 2018 compared to 57.4 per cent in 2017.