Rwanda to receive US$810 million in debt service relief; The IMF and World Bank support debt relief for Rwanda under the enhanced HIPC initiative.

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M2 PRESSWIRE-27 December 2000-INTERNATIONAL MONETARY FUND: Rwanda to receive US$810 million in debt service relief; The IMF and World Bank support debt relief for Rwanda under the enhanced HIPC initiative (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:22122000 The International Monetary Fund (IMF) and the World Bank Group's International Development Association (IDA) have agreed to support a comprehensive debt reduction package for Rwanda under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.

This debt relief package will save Rwanda about US$810 million in debt service over the coming years, and is equal to US$452 million in net present value (NPV1) terms. The relief from the enhanced HIPC Initiative will reduce by 71 percent the NPV of...