Rwanda wants to raise 10 billion francs through a new treasury bond to deal with money problems after European Union sanctions. The National Bank said the 10-year bond will start April 23 and end April 13, 2035. The money will help build roads, bridges, and other projects. Interest rates will be set on Wednesday afternoon after investors make their offers. People can invest as little as 100,000 francs if they have the right bank account.
The country needs cash because its public debt grew to 68 percent of GDP last year. The government keeps spending on construction projects, public services, and security needs. Despite these challenges, Fitch Ratings kept Rwanda at a B+ rating, saying the country manages money well. However, the agency warned about outside risks from nearby conflicts.
The European Union penalized Rwandan military leaders in March. Officials face travel bans because they allegedly backed rebels in Congo, though Rwanda denies this. The diplomatic trouble might scare away some foreign investors, so Rwanda has turned to local bonds instead. The economy grew almost eight percent last year despite rising prices and currency problems.
The country needs cash because its public debt grew to 68 percent of GDP last year. The government keeps spending on construction projects, public services, and security needs. Despite these challenges, Fitch Ratings kept Rwanda at a B+ rating, saying the country manages money well. However, the agency warned about outside risks from nearby conflicts.
The European Union penalized Rwandan military leaders in March. Officials face travel bans because they allegedly backed rebels in Congo, though Rwanda denies this. The diplomatic trouble might scare away some foreign investors, so Rwanda has turned to local bonds instead. The economy grew almost eight percent last year despite rising prices and currency problems.
