Rwanda secures Sh13.6 billion IMF loan
Rwanda has received about Kes13.63 billion (US$98.6 million) from the International Monetary Fund (IMF) for budgetary support under the country’s Resilience and Sustainability Facility.
The IMF said Rwanda’s economy had robust growth in 2022, but the overlapping crises have eroded policy buffers. The outlook remains subject to high uncertainty and the costs of the humanitarian response and reconstruction of damaged infrastructure by floods.
Rwanda’s economy continued with fast-paced post-pandemic growth in 2022, but macroeconomic imbalances are on the rise. Rising food prices and strong domestic demand fueled by high credit growth contributed to a persistent inflation which stood at 17.8 percent in April.
Robust import demand coupled with high commodity prices and tightening global financing conditions have weakened Rwanda’s external position. The uncertain external environment and the reduced prospects for external concessional financing are compounding the challenges from the legacy of the recent global crises.
