Rwanda: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda
IMF Staff Country Reports, June 18, 2020
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- Rwanda: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda
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Bibliographic details
- Published: June 18, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513548043.002
Economic impact of COVID-19
- COVID-19 has had a severe economic impact on Rwanda through the implementation of strict domestic measures to contain the spread of the virus and related global spillovers.
- Balance of payments (BOP) need arising from the pandemic is currently estimated at about USD 433 million.
Authorities’ response and fiscal measures
- Health and economic measures deployed totaling USD 311 million (3.3 percent of GDP).
- An economic recovery fund has been set up to support firms affected by the pandemic.
Request for IMF support under the Rapid Credit Facility (RCF)
- The authorities request an additional disbursement under the Rapid Credit Facility (RCF) of 50 percent of quota (SDR 80.1 million) under the “exogenous shock” window of the RCF.
- Context of the request:
- This follows the Executive Board’s approval on April 2, 2020 of the authorities’ earlier request for the same amount.
- The annual access limit of emergency financing under the “exogenous shock” window of the RCF was doubled to 100 percent of quota on April 9, 2020.
- Effect of the additional request:
- This additional request will bring the total disbursement under the RCF to 100 percent of quota.
Key publication and metadata
- Publication date: June 18, 2020
- Pages: 42
- Volume: 2020
- Issue: 207
- Series: Country Report No. 2020/207
- DOI: https://doi.org/10.5089/9781513548043.002
- Stock No: 1RWAEA2020003
- ISBN: 9781513548043
- ISSN: 1934-7685
Subjects and keywords
- Subject: COVID-19, Debt service, Debt sustainability analysis, Economic growth, Economic recovery, External debt, Health, Public debt
- Keywords: COVID-19, CR, Debt service, Debt sustainability analysis, economic recovery, Economic recovery, emergency support, financing, financing gap, Global, ISCR, market financing shock, RCF request, spending needs
Rwanda: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda (IMF Staff Country Reports 2020, 207), June 18, 2020.
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- 1rwaea2020003