{
  "title": "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",
  "publication": "IMF Staff Country Reports, December 19, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/12/19/rwanda-request-for-a-new-36-month-policy-coordination-instrument-and-request-for-an-527120",
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  "summary": "Supported by a large policy package, Rwanda’s economy rebounded in 2021 after contracting in the preceding year due to the COVID-19 shock.",
  "sections": [
    {
      "heading": "Economic rebound and current challenges",
      "content": "- Supported by a large policy package, Rwanda’s economy rebounded in 2021 after contracting in the preceding year due to the COVID-19 shock.\n- The country now faces multi-faceted challenges:\n  - Pandemic scars.\n  - Headwinds from the war in Ukraine.\n  - Climate-related shocks.\n  - Marked increase in inflationary pressures."
    },
    {
      "heading": "Downside risks",
      "content": "- Downside risks identified include:\n  - War spillovers, including further pressures on energy, food, and fertilizer prices.\n  - Global financial tightening.\n  - Slowdown in major trading partners.\n  - Climate-related shocks."
    },
    {
      "heading": "Authorities' requests and policy objectives",
      "content": "- The authorities have requested:\n  - A new Policy Coordination Instrument (PCI) with a 36-Month duration.\n  - An arrangement under the Resilience and Sustainability Facility (RSF).\n- Policy objectives of the requests:\n  - Support efforts in maintaining macroeconomic stability.\n  - Advance the reform agenda, including on climate, to enhance Rwanda’s resilience to climate-related shocks.\n  - Insure against downside risks.\n- Operational detail:\n  - The authorities will cancel the current PCI (expiring in June 2023) upon approval of the new PCI."
    },
    {
      "heading": "Report characteristics (summary of content)",
      "content": "- The publication provides a press release, a staff report, and a Statement by the Executive Director for Rwanda.\n- It emphasizes macroeconomic stability, reform measures, and climate resilience as central themes.\n\nInternational Monetary Fund. December 19, 2022.\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: December 19, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400227875.002",
    "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:",
    "Downside risks identified include:",
    "The authorities have requested:",
    "Policy objectives of the requests:",
    "Operational detail:",
    "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.",
    "**Executive Summary**"
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