KIGALI Rwanda (Xinhua) --
Rwanda’s debt burden indicators remain below the
policy-related thresholds, the Rwandan finance minister said
Rwandan minister of finance and economic planning, told
reporters that the country is categorized as low debt distress
country by International Monetary Fund (IMF) where its external
debt against GDP currently stands at 36.6 percent.
Its external debt
burden indicators remain below risk thresholds and public debt,
though is increasing, remains comparatively low, he said, adding
that Rwanda’s external debt burden is also expected to improve
over time due to expected strong growth and expansion in exports
and improvement in revenues.
responding to a media report saying that IMF warned Rwanda on
According to him,
IMF has never warned Rwanda on external borrowing since the
country’s external debt burden remains below the policy-related
Rwanda is in a
strong position to repay its creditors, despite envisaged risks
on the country’s growth prospects due to the impact of external
shocks and interest rate controls, he said.
China to help Rwanda extend
polytechnic and drill boreholes
KIGALI Rwanda (Xinhua) --
The Chinese ambassador to Rwanda and the Rwandan
finance minister on Wednesday signed an economic and technical
cooperation to help the country improve technical education and
Under the agreement,
the Chinese government pledged to provide funds to extend
Musanze Polytechnic in Rwanda’s Northern Province, and to drill
200 boreholes, as well as other projects to be agreed upon by
the two governments.
Rao Hongwei, the
ambassador, and minister Claver Gatete exchanged letters to
confirm the implementation of the aforesaid two projects.
Musanze Polytechnic will have the capacity to enroll 1500
diploma students and 400 short-course trainees up from 560
diploma students and 180 short-course trainees. The 200
boreholes will provide water to the communities in 11 districts
and it will fully serve approximately 300 to 1500 people per
borehole with potable water in selected area.
Rwanda intends to be
a knowledge-based economy therefore education is crucial, said
Gatete at the signing ceremony, adding that the extension of
Musanze Polytechnic will ensure the school meets the increasing
demands of diploma education while drilling water boreholes will
contribute to the alleviation of water shortage.
China has been
extending its assistance and conducting cooperation activities
with African countries through the framework of the Forum on
China-Africa Cooperation, under which China granted to Rwanda a
significant number of turnkey projects, he said.
He thanked the
government of China for its continued support to Rwanda in most
crucial areas of the country’s social and economic
There is a strong
match between China’s Belt and Road Initiative, “Made in China
2025” policy and Rwanda’s industrialization strategy, according
China is willing to,
together with Rwanda, enhance practical economic cooperation
through strengthening communication and coordination, said the
He added that China
will continue to provide assistance in infrastructure
construction, industrialization and agricultural modernization
to improve the economic and social development of Rwanda.