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

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M2 PRESSWIRE-27 December 2000-WORLD BANK: Rwanda to receive US$810 million in debt service relief; The World Bank and IMF support debt relief for Rwanda under the enhanced HIPC initiative (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:22122000 WASHINGTON - The World Bank Group's International Development Association (IDA) and the International Monetary Fund (IMF) 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 (NPV The NPV of debt is the discounted sum of all future debt-service obligations (interest and...