Rwanda: Request for a new 36-Month Policy Coordination Instrument and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda
IMF Staff Country Reports, December 19, 2022
Source details
- Canonical URL
- Rwanda: Request for a new 36-Month Policy Coordination Instrument and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Rwanda
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Bibliographic details
- Published: December 19, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400227875.002
Economic rebound and current challenges
- Supported by a large policy package, Rwanda’s economy rebounded in 2021 after contracting in the preceding year due to the COVID-19 shock.
- The country now faces multi-faceted challenges:
- Pandemic scars.
- Headwinds from the war in Ukraine.
- Climate-related shocks.
- Marked increase in inflationary pressures.
Downside risks
- Downside risks identified include:
- War spillovers, including further pressures on energy, food, and fertilizer prices.
- Global financial tightening.
- Slowdown in major trading partners.
- Climate-related shocks.
Authorities' requests and policy objectives
- The authorities have requested:
- A new Policy Coordination Instrument (PCI) with a 36-Month duration.
- An arrangement under the Resilience and Sustainability Facility (RSF).
- Policy objectives of the requests:
- Support efforts in maintaining macroeconomic stability.
- Advance the reform agenda, including on climate, to enhance Rwanda’s resilience to climate-related shocks.
- Insure against downside risks.
- Operational detail:
- The authorities will cancel the current PCI (expiring in June 2023) upon approval of the new PCI.
Report characteristics (summary of content)
- The publication provides a press release, a staff report, and a Statement by the Executive Director for Rwanda.
- It emphasizes macroeconomic stability, reform measures, and climate resilience as central themes.
International Monetary Fund. December 19, 2022.
Content in this bundle
- Executive Summary