Rwanda: Request for a 38-Month Arrangement Under the Extended Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for Rwanda

IMF Staff Country Reports, June 12, 2026

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Canonical URL: Rwanda: Request for a 38-Month Arrangement Under the Extended Credit Facility; Press Release; Staff Report; and Statement by the Executive Director for Rwanda

Publication date: June 12, 2026
The authorities completed a 36-month Policy Coordination Instrument (PCI) in December 2025 and sustained a strong track record of policy implementation that anchored macroeconomic stability.
Facing tighter financing conditions and compounded by the war in the Middle East, Rwanda faces a protracted balance-of-payments need.
The authorities have requested a 38‑month Extended Credit Facility (ECF) arrangement to provide temporary financing and a credible policy anchor to support orderly adjustment.
The authorities consider the ECF to be the most suitable instrument to address their needs at this juncture.

Rwanda’s economy remains resilience in the face of multiple shocks.
Sustained policy implementation under the PCI contributed to macroeconomic stability but building buffers while sustaining development ambitions has become more challenging given tighter financing conditions.
External shocks, including the war in the Middle East, exacerbate financing and balance-of-payments pressures.
The requested 38‑month ECF is intended to address a protracted balance-of-payments need and to support orderly adjustment.

The ECF arrangement aims to provide temporary financing and a credible policy anchor.
Emphasis on sustaining development ambitions while rebuilding buffers under constrained financing conditions.
Subject areas highlighted in the publication:
- Debt sustainability
- External debt
- Fiscal risks
- Inflation
- Prices
- Public debt
- Public financial management (PFM)