Regardless of pressure on Rwanda's finances brought on by ongoing global shocks linked to the prolonged impact of the Covid-19 pandemic, the war in #Ukraine, and the appreciation of the US dollar, Rwanda has successfully repaid its $400 million Euro bond.

East African news has learned that the full payment, due this week, was successfully made.

Officials from Rwanda’s Ministry of Finance and Economic Planning say the repayment was made possible partly due to the availability of financing from the International Monetary Fund (IMF) that allowed the government to make savings.

"The government has set aside $63 million as part of the International Monetary Fund's Special Drawing Rights (SDR) allocation that it received in 2021 as support to fight against the impact of Covid-19 on the economy,” the finance ministry told The EastAfrican.

“This foresight and proactive measure by the government have significantly reduced the risk of default and allowed a successful #repayment of the remaining 15.1 percent of the 2013 Eurobond," the ministry added.