The International Monetary Fund has approved a new financing package worth SDR 185.031 million, equivalent to about US$250 million, for Rwanda under a 38-month Extended Credit Facility programme aimed at strengthening economic stability and helping the country navigate growing global economic pressures.
In a statement issued on June 8, the IMF said the programme includes an immediate disbursement of SDR 26.433 million, or approximately US$35.7 million, to support the implementation of the reforms.
The financing is intended to help Rwanda safeguard priority social and development spending while reinforcing fiscal and monetary policies. It also seeks to promote private sector-led growth through greater transparency, stronger governance, and improved oversight of state-owned enterprises.
The approval comes as Rwanda continues to post strong economic performance despite an increasingly challenging global environment. According to the IMF, the country’s economy expanded by 9.4 per cent in 2025, surpassing earlier projections and reflecting resilient domestic activity and sustained investment.
However, inflationary pressures have intensified, with consumer prices rising to 13.2 per cent in April 2026, well above the target range set by the National Bank of Rwanda.
The IMF noted that Rwanda’s external position has benefited from strong export earnings, particularly from coffee and mineral exports. Nevertheless, high import demand for machinery, equipment and other investment-related goods continues to weigh on the balance of payments.
Foreign exchange reserves remain at adequate levels, covering slightly more than four months of imports.
Despite the positive growth outlook, the IMF warned that inflation, fiscal pressures and the current account deficit remain significant challenges.
“Inflation, fiscal and current account pressures persist due to higher international oil and fertilizer prices driven by the war in the Middle East, and financing of large strategic investments,” the IMF said.
The Fund projects that economic growth will moderate to below 6.8 per cent in 2026 as Rwanda continues to contend with elevated import costs, inflationary pressures and the financing needs of major development projects.
The new programme is expected to provide a policy framework to support macroeconomic stability while helping Rwanda sustain growth and advance its long-term development objectives.
