A debt-free Rwanda a real possibility

Editor, My attention was drawn to Ivan R. Mugisha's article "Rwanda's dependence on foreign aid drops 45 %" published on Wednesday. The new Rwanda is well on the way to becoming free of foreign debt. The country under the able guidance of His Excellency Paul Kagame has seen dependence on foreign aid drop from 86 % in 2000 to 45 % in 2010.
Clarence Fernandes
Clarence Fernandes

Editor,

My attention was drawn to Ivan R. Mugisha's article "Rwanda's dependence on foreign aid drops 45 %" published on Wednesday.

The new Rwanda is well on the way to becoming free of foreign debt.

The country under the able guidance of His Excellency Paul Kagame has seen dependence on foreign aid drop from 86 % in 2000 to 45 % in 2010.

This indeed is a great achievement and reflects the robust growth in the economy over the last decade.

The Rwanda Development Board constantly reviews its policies and procedures so that the country's growth strategy is able to adapt to current economic trends.

With this inclusive innovation, RDB always ensures that investors are able to get maximum returns on their investments and are thereby encouraged to step up investments into the country.

With the high goals set out in Vision 2020 , this great nation will be in a position to convert whatever little foreign debt there might be at the end of the next decade into equity and even have local Rwandan businesses take over the remaining quantum of foreign debt.

The progress being made by the country is phenomenal and judging by the way things are progressing in the country, a foreign debt-free Rwanda is a distinct possibility.

Clarence Fernandes 
Chairman
Rwanda Renaissance
         and
Co-Chairman
Travel & Tourism Committee
Indian Merchants' Chamber

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