{
  "title": "Rwanda: First Review Under the Policy Support Instrument",
  "publication": "IMF Staff Country Reports, July 3, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/rwanda-first-review-under-the-policy-support-instrument-41701",
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  "summary": "This paper discusses Rwanda’s First Review Under the Policy Support Instrument. Rwanda continues to face the challenge of sustaining high growth while reducing its reliance on aid and preventing the build-up of imbalances.",
  "sections": [
    {
      "heading": "Economic outlook and growth projections",
      "content": "- Rwanda faces the challenge of sustaining high growth while reducing its reliance on aid and preventing the build-up of imbalances.\n- Growth is projected to increase to 6 percent in 2014."
    },
    {
      "heading": "Foreign exchange reserves and policy buffers",
      "content": "- After using foreign exchange reserves over the past few years to support the economy, the room for maneuver is more limited.\n- It will be important to rebuild policy buffers."
    },
    {
      "heading": "Fiscal stance and short-term policy priorities",
      "content": "- In the short term, the need to support growth and preserve the level of foreign reserves requires a cautious fiscal stance.\n- Policy priorities include:\n  - maintaining priority spending; and\n  - leaving scope for private sector credit expansion."
    },
    {
      "heading": "Subject areas and keywords (as listed)",
      "content": "- Subject: Budget planning and preparation, Expenditure, External debt, Monetary base, Money, Public financial management (PFM), Revenue administration\n- Keywords: Budget planning and preparation, CR, debt ratio, economic activity, GDP deflator, Global, global fund, growth prospect, ISCR, Monetary base, policy, policy buffer\n\n---\n\n Content in this bundle\n\n- cr14185\n  - cr14185 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14185 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 3, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498393195.002",
    "Rwanda faces the challenge of sustaining high growth while reducing its reliance on aid and preventing the build-up of imbalances.",
    "Growth is projected to increase to 6 percent in 2014.",
    "After using foreign exchange reserves over the past few years to support the economy, the room for maneuver is more limited.",
    "It will be important to rebuild policy buffers.",
    "In the short term, the need to support growth and preserve the level of foreign reserves requires a cautious fiscal stance.",
    "Policy priorities include:",
    "Subject: Budget planning and preparation, Expenditure, External debt, Monetary base, Money, Public financial management (PFM), Revenue administration",
    "Keywords: Budget planning and preparation, CR, debt ratio, economic activity, GDP deflator, Global, global fund, growth prospect, ISCR, Monetary base, policy, policy buffer",
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