International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | May 24, 2023

International Monetary Fund (IMF) Executive Board Completes First Reviews Under the Policy Coordination Instrument, and Resilience and Sustainability Facility for Rwanda

Rwanda’s economy continued with fast-paced post-pandemic growth in 2022, but macroeconomic imbalances have emerged

The Executive Board of the International Monetary Fund (IMF) completed today the first reviews of Rwanda’s Policy Coordination Instrument (PCI) and program under the Resilience and Sustainability Facility (RSF). The Board’s decision allows for an immediate disbursement of SDR 73.95 million (about US$ 98.6 million) under the Resilience and Sustainability…

Source: International Monetary Fund (IMF) | Apr 04, 2023

International Monetary Fund (IMF) Staff Reached Staff-Level Agreement on the First Reviews of the Policy Coordination Instrument and Arrangement under Resilience and Sustainability Facility with Rwanda

Upon completion of the Executive Board review, Rwanda would have access to SDR 55.46 million (equivalent to about US$ 74.6 million) under the RSF

An International Monetary Fund (IMF) mission, led by Haimanot Teferra, held meetings with the Rwandan authorities during March 22 – April 4, 2023, to discuss the first reviews of Rwanda’s Policy Coordination Instrument (PCI) and program under the Resilience and Resilience and Sustainability Facility (RSF). The PCI and RSF arrangement were…

Source: International Monetary Fund (IMF) | Apr 05, 2022

IMF Staff Concludes Visit to Rwanda

The National Bank of Rwanda (BNR) should stand ready to take appropriate actions calibrated to evolving domestic and external economic conditions

IMF staff had productive discussions with the Rwandan authorities on policies to complete the sixth review under the Policy Coordination Instrument (PCI); The Rwandan economy managed the COVID-19 pandemic well registering growth of 10.9 percent in 2021, but the outlook is clouded by the impact of the war in Ukraine…

Source: International Monetary Fund (IMF) | Jan 12, 2022

IMF Executive Board Completes the 2021 Article IV Consultation and Fifth Review of the Policy Coordination Instrument for Rwanda

The PCI was approved on June 28, 2019 to facilitate macroeconomic and financial stability, while advancing an ambitious reform agenda under Rwanda’s National Strategy for Transformation (NST)

Rwanda’s economy has rebounded strongly in 2021, and the recovery is expected to continue in 2022, supported by strengthened vaccination efforts, a pickup in external demand, and accommodative macroeconomic policies. Nevertheless, with a high portion of the population still unvaccinated, risks about the path of the COVID-19 pandemic remain significant…

Source: International Monetary Fund (IMF) | Oct 01, 2020

Coronavirus: International Monetary Fund (IMF) Staff issues an Interim Performance Update to the Board on Rwanda’s Policy Coordination Instrument (PCI)

COVID-19 pandemic has had a severe economic impact on Rwanda through implementation of strict domestic measures to contain the spread of virus and related global spillovers

All end-December 2019 quantitative targets for the second review under the PCI [1] were met and performance on the reform targets was broadly on track; the heavy toll of the COVID-19 pandemic has pushed the fiscal targets for end-June 2020 out of reach and hampered progress in advancing the reform…

Source: International Monetary Fund (IMF) | Jun 11, 2020

Coronavirus - Rwanda: International Monetary Fund (IMF) Executive Board Approves an Additional US$111.06 Million Disbursement to Rwanda to Address the COVID-19 Pandemic

Rwanda’s economy has been severely impacted by the COVID-19 pandemic with weaker domestic demand losses of revenue, and a sharp decline in exports and remittances

The IMF approved US$111.06 million (SDR80.1 million), a second disbursement under the Rapid Credit Facility (RCF) bringing the total IMF COVID-19 emergency support to Rwanda to US$ 220.46 million to help urgent balance of payment needs stemming from the pandemic; Rwanda’s economy has been severely impacted by the COVID-19 pandemic…

Source: International Monetary Fund (IMF) | Apr 03, 2020

Coronavirus – Rwanda: International Monetary Fund (IMF) Executive Board Approves a US$109.4 Million Disbursement to Rwanda to address the COVID-19 Pandemic

The economic impact of the COVID-19 pandemic is rapidly unfolding, with the near-term outlook deteriorating quickly

The IMF approved the disbursement of US$109.4 million to be drawn under the Rapid Credit Facility; The economic impact of the COVID-19 pandemic is rapidly unfolding, with the near-term outlook deteriorating quickly; The authorities have acted fast by putting in place measures to help contain and mitigate the spread of…

Source: International Monetary Fund (IMF) | Nov 14, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Rwanda

An International Monetary Fund (IMF) staff team, led by Laure Redifer, visited Kigali during October 31- November 13, 2019

Rwanda continues to make notable progress in sustaining high and inclusive growth; Real GDP growth outpaced expectations, averaging 10.3 percent in the first half of 2019; IMF staff have reached preliminary agreement with the government, subject to approval by its Executive Board, on policies that could support completion of the…

Source: International Monetary Fund (IMF) | Dec 17, 2018

Looking Ahead to Chart Today’s Course: The Future of Work in sub-Saharan Africa

Opening Remarks by Christine Lagarde, Managing Director, International Monetary Fund

As Prepared for Delivery Introduction Thank you, Minister Gyan-Baffour, for that kind introduction. I would like to extend my sincere gratitude to Vice-President Bawumia and the Ghanaian government for co-hosting this conference with the IMF. Your excellency, Vice-President Bawumia, Minister Gyan-Baffour, honored guests — it is my pleasure to welcome…

Source: International Monetary Fund (IMF) | Nov 13, 2017

IMF Staff Completes Review Visit to Rwanda

Growth in 2017 is expected to be 5.2 percent, well above growth averages for sub-Saharan Africa and an acceleration in the medium term will lead to average growth above 7 percent over the next three years

The IMF team reached preliminary agreement with the government on policies that could support completion of the eighth and third reviews of Rwanda’s PSI- and SCF-supported programs. Growth in 2017 is expected to be 5.2 percent, well above growth averages for sub-Saharan Africa and an acceleration in the medium term…

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