Rwanda: Tenth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Rwanda

November 30, 2018

Preview Citation

Format: Chicago

Rwanda: Tenth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Rwanda, (USA: International Monetary Fund, 2018) accessed November 14, 2024

Summary

This is the tenth and final review of Rwanda’s PSI-program, approved by the Executive Board on December 2, 2013. A concurrent 18-month SCF arrangement was approved on June 8, 2016 to support adjustment policies to eliminate external imbalances. The PSI-supported program was extended three times, on: June 8, 2016; November 19, 2017; and January 12, 2018. When it expires on December 1, 2018, the program will have reached its maximum 5-year limit. Recent Developments. After a dip in 2016–17, real GDP growth has been recovering over the past four quarters. Growth averaged 8.6 percent in the first half of 2018 and, despite a temporary deceleration in Q2, remains in line with projections for 7.2 percent for the year. Growth in the medium term should remain at or higher than historical averages, based on a strong pipeline of tourism and business tourism, new mining operations, more resilient agriculture, new and more diversified exports, and construction of a new airport. Inflation remains low, and expectations within targeted ranges. External balances and reserve buffers continued to improve, while the financial sector remains healthy.

Subject: Balance of payments, Current account balance, Inflation, Monetary policy, Monetary policy frameworks, Prices, Public debt, Revenue administration

Keywords: CR, Current account balance, Global, Headline inflation, IMF staff estimate, Inflation, Inflation expectation, Interest rate, ISCR, Monetary policy frameworks, Monetary policy stance, Revenue mobilization effort

Publication Details

Pages:

46
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2018/335
Stock No:

1RWAEA2018006
ISBN:

9781484387238
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports