{
  "title": "Rwanda: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda",
  "publication": "IMF Staff Country Reports, April 16, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343",
  "overlayPath": "/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/index.md",
  "summary": "This paper highlights Rwanda’s Request for Disbursement Under the Rapid Credit Facility (RCF). The economic impact of the coronavirus disease 2019 pandemic is rapidly unfolding with the near-term outlook deteriorating quickly. This has given a rise to significant fiscal and external financing needs.",
  "sections": [
    {
      "heading": "Summary and context",
      "content": "- The paper highlights Rwanda’s Request for Disbursement Under the Rapid Credit Facility (RCF).\n- The economic impact of the coronavirus disease 2019 pandemic is rapidly unfolding with the near-term outlook deteriorating quickly.\n- This deterioration has given rise to significant fiscal and external financing needs.\n- The authorities have acted fast by putting in place measures to help contain and mitigate the spread of the disease."
    },
    {
      "heading": "Role of RCF financing",
      "content": "- RCF funds will support the authorities’ efforts by:\n  - backstopping the decline in international reserves, and\n  - providing financing to the budget for increased spending aimed at containing the epidemic and mitigating its economic impact.\n- The additional IMF financing also ought to help catalyze further assistance from the international community, preferably in the form of grants."
    },
    {
      "heading": "IMF monitoring and support",
      "content": "- The IMF continues to monitor Rwanda’s situation closely and stands ready to provide policy advice and further support as needed."
    },
    {
      "heading": "Monetary policy recommendations",
      "content": "- Monetary policy needs to be data-driven.\n- The central bank should stand ready to provide additional liquidity support if warranted.\n- A flexible exchange rate should be maintained as a shock absorber."
    },
    {
      "heading": "Financial sector measures and recommendations",
      "content": "- The National Bank of Rwanda has taken various measures to help maintain the health of the financial sector.\n- It should continue to show flexibility, while:\n  - encouraging prudent loan restructuring, and\n  - stepping up reporting requirements.\n\n---\n\n Content in this bundle\n\n- 1rwaea2020002\n  - 1rwaea2020002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1rwaea2020002 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/bundle-manifest.json)",
    "Published: April 16, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513541136.002",
    "The paper highlights Rwanda’s Request for Disbursement Under the Rapid Credit Facility (RCF).",
    "The economic impact of the coronavirus disease 2019 pandemic is rapidly unfolding with the near-term outlook deteriorating quickly.",
    "This deterioration has given rise to significant fiscal and external financing needs.",
    "The authorities have acted fast by putting in place measures to help contain and mitigate the spread of the disease.",
    "RCF funds will support the authorities’ efforts by:",
    "The additional IMF financing also ought to help catalyze further assistance from the international community, preferably in the form of grants.",
    "The IMF continues to monitor Rwanda’s situation closely and stands ready to provide policy advice and further support as needed.",
    "The central bank should stand ready to provide additional liquidity support if warranted.",
    "A flexible exchange rate should be maintained as a shock absorber.",
    "The National Bank of Rwanda has taken various measures to help maintain the health of the financial sector.",
    "It should continue to show flexibility, while:",
    "**1rwaea2020002**"
  ],
  "related": [
    {
      "title": "1rwaea2020002",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2020/english/1rwaea2020002.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2020/english/1rwaea2020002.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2020/english/1rwaea2020002.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/index.md",
    "json": "/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/index.json",
    "bundleManifest": "/en/publications/cr/issues/2020/04/16/rwanda-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-report-49343/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T18:03:59.273Z"
}