Rwanda

This paper assesses Rwanda’s First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Performance under the PRGF-supported program has been encouraging. However, poverty is pervasive, and the economy, which remains heavily dependent on rain-fed agriculture and external assistance, is vulnerable to changes in climate and in international developments. The 2003 program supports critical operations envisaged under the Poverty Reduction Strategy Paper, including the transition to democracy and military demobilization.Poverty Reduction and Growth Facility;debt, external debt, debt service, loans, debt relief, public debt, payments, interest, expenditures, debt sustainability, current account, creditors, obligations, restructuring, central bank, balance of payments, external public debt, liabilities, public finances, repayment, current account deficit, debt management, debt rescheduling, external financing, budget law, treasury bills, taxes, bilateral agreements, commercial creditors, government debt, foreign debt, debt sustainability analysis, external liabilities, domestic debt, external debt service, stock-of-debt operation, total external debt, fiscal policy, collections, taxpayers, current account balance, overdue obligations, stock of debt, debt outstanding, loan disbursements, debt monitoring, debt forgiveness, public debt management, reserve assets, debt-relief, public expenditure, public finance, debt payment, loan disbursement, tax incentives, bilateral creditors, total debt stock, debt instruments, credit unions, outstanding debt, concessional debt, external debt sustainability, debt-service obligation, general resources account, budgetary resources, external obligations, tax revenues, debts, debt management policy, debt service burden, current account deficits, credit institutions, debt service ratio, multilateral creditors, net present value of debt, creditor, debt statistics, debt stock, promissory notes, rural credit, deficits, domestic financing, commercial credit, foreign aid, government securities, treasury operations, traditional debt relief, budget laws