IMF Staff Country Reports

Rwanda: Fourth Review Under the Policy Coordination Instrument, Second and Final Review Under the Stand-By Credit Facility Arrangement, Fourth and Final Review Under the Arrangement Under the Resilience and Sustainability Facility, and Request for the Modification of End-June 2025 Quantitative Target for the Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Rwanda

December 16, 2024

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Format: Chicago

International Monetary Fund. African Dept. "Rwanda: Fourth Review Under the Policy Coordination Instrument, Second and Final Review Under the Stand-By Credit Facility Arrangement, Fourth and Final Review Under the Arrangement Under the Resilience and Sustainability Facility, and Request for the Modification of End-June 2025 Quantitative Target for the Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Rwanda", IMF Staff Country Reports 2024, 341 (2024), accessed May 22, 2025, https://doi.org/10.5089/9798400295393.002

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Summary

Economic growth remains robust, with inflation stable at the midpoint of the target range. Supported by the Policy Coordination Instrument (PCI), Resilience and Sustainability Facility (RSF), and the Stand-by Credit Facility (SCF) Rwanda is advancing its structural reforms focused on macroeconomic stability, fiscal and monetary policy, and climate resilience. The recent Marburg virus disease outbreak highlighted Rwanda’s vulnerability to diseases, but also demonstrated the country’s strong capacity to respond to such events. The authorities remain committed to advancing their reform agenda.

Subject: Climate change, Climate finance, Debt sustainability analysis, Environment, External debt, Public debt

Keywords: Africa, Climate change, Climate finance, Climate goal, Debt sustainability analysis, Global, National bank of Rwanda, Policy buffers fiscal consolidation, RSF disbursement, RSF review, Rwanda capital market authority, Rwandan authorities, Sub-Saharan Africa

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