IMF Staff Country Reports

Rwanda: Fifth Review Under the Policy Coordination Instrument and Request for the Modification of End-June 2025 Quantitative Target-Press Release; Staff Report; and Statement by the Executive Director for Rwanda

June 10, 2025

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Format: Chicago

International Monetary Fund. African Dept. "Rwanda: Fifth Review Under the Policy Coordination Instrument and Request for the Modification of End-June 2025 Quantitative Target-Press Release; Staff Report; and Statement by the Executive Director for Rwanda", IMF Staff Country Reports 2025, 127 (2025), accessed June 14, 2025, https://doi.org/10.5089/9798229013918.002

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Summary

Despite a challenging external environment, Rwanda's economy grew by 8.9 percent in 2024, driven by robust performances in services, construction, and food crop production. Inflation stabilized within the central bank’s target range, underpinned by a combination of tight monetary policy and favorable food prices. Looking ahead, implementing priorities under the Government’s Second National Transformation Strategy will require significant financing, including for key investment projects such as the second phase of construction of the New Kigali International Airport and the expansion of RwandAir. The authorities remain firmly committed to advancing their ambitious structural reform agenda, supported by the Policy Coordination Instrument (PCI).

Subject: Debt service, Debt sustainability, Debt sustainability analysis, External debt, Financial institutions, Fiscal consolidation, Fiscal policy, Government debt management, Loans, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Revenue administration

Keywords: Debt service, Debt sustainability, Debt sustainability analysis, Fiscal consolidation, Fiscal risks, Government debt management, Loans, Public and publicly-guaranteed external debt, Public Financial Management

Publication Details

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