## 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](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/12/19/rwanda-request-for-a-new-36-month-policy-coordination-instrument-and-request-for-an-527120/index.md)
- [Structured JSON version](/en/publications/cr/issues/2022/12/19/rwanda-request-for-a-new-36-month-policy-coordination-instrument-and-request-for-an-527120/index.json)
- [Bundle manifest](/en/publications/cr/issues/2022/12/19/rwanda-request-for-a-new-36-month-policy-coordination-instrument-and-request-for-an-527120/bundle-manifest.json)

## Bibliographic details
- Published: December 19, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400227875.002

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### 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.*

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/cr/2022/english/1rwaea2022003.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/cr/2022/english/1rwaea2022003.pdf){rel="external" type="application/pdf"}

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_Source: 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_