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Rwanda’s finance minister warns of moderate risk of debt default

Nation’s external debt is largely made up of concessional loans.
Image: Will Boase/Bloomberg

Rwanda’s debt remains sustainable but the risk of default has moved to moderate from low this year due to poor economic growth, Finance Minister Uzziel Ndagijimana told lawmakers Monday evening.

  • Nation’s external debt is largely made up of concessional loans.
  • Formal trade deficit widened by 7% in January-September from a year earlier.
    • Almost all export categories showed a decline resulting in a 21 and 15% decrease in value and volume respectively.
    • Imports decreased by 4.5% in value, while volume rose 3.7%.
  • Total domestic revenue collected July-September was 465.5 billion francs, beating target by 52.5 billion francs.
© 2020 Bloomberg

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The default race is on: ZAMBIA vs AZANIA VS RWANDA. Tri-nations. Yet all going to be losers.

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