Rwanda remains low risk of debt distress: minister

KIGALI, Jan. 31 (Xinhua) -- Rwanda's debt burden indicators remain below the policy-related thresholds, the Rwandan finance minister said Wednesday.

Claver Gatete, 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.

Gatete was responding to a media report saying that IMF warned Rwanda on external borrowing.

According to him, IMF has never warned Rwanda on external borrowing since the country's external debt burden remains below the policy-related thresholds.

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. Enditem