Macro Economy
External Finance
Public Debt


Purpose of the function

Debt is a potential financing option to meet the financial requirements of its national investments plans. Macroeconomic Policy Unit intervenes in debt management through designing and updating a debt strategy and policy.

The Macroeconomic Unit also provides the Debt Sustainability Analysis (DSA) on the basis of the public debt policy and debt strategy. This is a tool, which shows how the country can meet its current and future external debt service obligations in full, without recourse to debt rescheduling or the accumulation of arrears and without compromising growth.

Description of the function

•Debt strategy and debt policy

To design the Medium Term Debt Strategy and debt policy, Macroeconomic Policy Unit collects all information on public and publically debt guarantee. Different policy documents provided by National Development Planning and Research Directorate in collaboration with Rwanda Development Board (RDB) are used. These include:

-Government Program (PIP, PPP, National Export promotion Strategy, etc.)

-Other Economic Development Program (EDPRS, VISION 2020, etc.).

In regards with monitoring the implementation of the recommendations stated by debt strategy and debt policy, the debt management committee proposes a review every three years or when necessary.

•Debt Sustainability Analysis

The DSA is prepared using the data from:

-Treasury Unit concerning public debt outstanding by currency and by creditors, debt services (interest and principal debt payment) of the period given and debt service projections, discount rate of USD, average of past three years of Country Policy and Institutional Assessment (CPIA) rates;

-National Bank of Rwanda concerning private external debt.

•Public Debt Management Committee

The committee’s role is to strengthen the debt strategy and debt policy implementation and to ensure transparency and accountability in Public Finance Management. It is composed of representatives from MINECOFIN and NBR. 

The Committee meets on a quarterly basis to review developments in debt management and discusses pertinent issues affecting public debt management.

  Filename Info Modified
Debt_Stock_End_2018-Final.xlsx Debt_Stock_End_2018-Final.xlsx  34 KB 12-10-20 17:27
Debt_Stock_End__2019-Final.xlsx Debt_Stock_End__2019-Final.xlsx  41 KB 12-10-20 17:27
Debt_Sustainabilty_Analysis_Report_-_end_2013.docx Debt_Sustainabilty_Analysis_Report_-_end_2013.docx  421 KB 12-10-20 17:28
Loan_Guarantee_Procedure.pdf Loan_Guarantee_Procedure.pdf  302 KB 12-10-20 17:28
Public_Debt_Management_Procedures_Manual.pdf Public_Debt_Management_Procedures_Manual.pdf  2.6 MB 12-10-20 17:28
Rwanda-_MTDS__2015-2016.pdf Rwanda-_MTDS__2015-2016.pdf  1.0 MB 12-10-20 17:28
Rwanda_MTDS_FY__2019-20_2021-22.pdf Rwanda_MTDS_FY__2019-20_2021-22.pdf  1.4 MB 17-12-20 16:42
Rwanda_MTDS_Final-FY_2018-19_-2020-21.pdf Rwanda_MTDS_Final-FY_2018-19_-2020-21.pdf  1.4 MB 12-10-20 17:28
Rwanda__MTDS_FY__2020-21_2022-23.pdf Rwanda__MTDS_FY__2020-21_2022-23.pdf  1.0 MB 17-12-20 16:47
STATISTICAL_BULLETIN_-SEPT_2020_Final.pdf STATISTICAL_BULLETIN_-SEPT_2020_Final.pdf  1.4 MB 20-10-20 17:19

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