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Burundi: Request for Modification of Nonconcessional External Debt Limit Under the Extended Credit Facility
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 315
Language:
English
Publication Date:
03 Nov 2011
DOI:
https://doi.org/10.5089/9781463923884.002
ISBN:
9781463923884
ISSN:
1934-7685
Pages:
14
Keywords:
ISCR; CR; current account; exchange rate; debt ratio; creating flow; sustainability framework; debt stock; grant element; debt service-to-revenue; service-to-revenue ratio; PPG debt; Public and publicly-guaranteed external debt; Lines of credit; Fiscal stance
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The Burundian government has requested a modification of the zero limit on nonconcessional external debt in the country’s arrangement under the Extended Credit Facility (ECF). It has sought to increase the grant element of the financing for the hydroelectric plant. Executive Directors support this request as the benefits of the hydroelectric plant outweigh the additional risk arising from the proposed line of credit. This will help Burundi increase its electricity generation capacity significantly, which has been identified by both donors and businesses as the major constraint to growth.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund