IMF Staff Country Reports

Rwanda’s strong transformation over the past two decades has been
underpinned by sustained economic growth and improved living standards. Growth has
averaged 6–9 percent, driven by exports and infrastructure investment, and supported
by improvements in health and education outcomes, though structural challenges and
fiscal pressures from successive shocks persist amid reduced policy buffers. Close
engagement with the IMF through the Policy Coordination Instrument (PCI), Resilience
and Sustainability Facility (RSF), and Standby Credit Facility (SCF) has helped preserve
macroeconomic stability and resilience amid natural disasters and global headwinds. As
the PCI finalizes, focus now shifts to financing priorities under the Second National
Strategy for Transformation, including large infrastructure projects such as the New
Kigali International Airport, while safeguarding debt sustainability, strengthening
domestic revenue mobilization, and advancing inclusive, climate-resilient growth.