Rwanda has responded to lower aid by tightening policies and drawing on its foreign reserves to cushion the impact on the economy. Economic activity has been resilient despite lower aid inflows. The agreed framework for the FY2013/14 budget is in line with Policy Support Instrument (PSI)...

This paper presents Rwanda's First Reviews under the Policy Coordination Instrument and the Arrangement under the Resilience and Sustainability Facility, Request for the Modification of End-June 2023 Quantitative Targets, and Rephasing of Access under the Resilience and Sustainability Facility....

This Selected Issues paper revisits Rwanda's options to create fiscal space to meet long-term development challenges. It examines strategies and options for a credible and comprehensive domestic revenue mobilization. The paper analyzes the driving factors of past reform successes and use an...

This paper presents Rwanda's 2023 Article IV Consultation, Second Reviews under the Policy Coordination Instrument and the Arrangement under the Resilience and Sustainability Facility, Requests for the Modification of End December 2023 Quantitative Targets, Rephasing of Access under the...

This paper analyses Rwanda's Sixth Review under the Policy Coordination Instrument (PCI) and Monetary Policy Consultation Clause. Rwanda continues to implement its Economic Recovery Plan while confronting the lingering effects of the pandemic and the spillovers from the war in Ukraine. Headline...

The Rwandan economy continues its robust growth, notwithstanding the challenging external environment, repeated shocks, and ongoing fiscal consolidation. Headline inflation decelerated sharply in recent months owing to appropriately tight monetary policy stance and favorable developments in food...

KEY ISSUES Main challenges: Rwanda continues to face the challenge of sustaining high growth in a context of uncertain donor flows, while avoiding the build-up of imbalances. Efforts to mobilize domestic revenue need to be reinvigorated, while judiciously using the limited borrowing space to...

This paper discusses Rwanda’s First Review Under the Policy Support Instrument. Rwanda continues to face the challenge of sustaining high growth while reducing its reliance on aid and preventing the build-up of imbalances. After using foreign exchange reserves over the past few years to...

The article summarizes the positive economic development of Rwanda and its internal and external policies. Rwanda's economy is referred to as a success story, but it also faces certain challenges. The country is focused on maintaining macroeconomic stability, sustaining sturdy growth, and...

Supported by a large policy package, Rwanda's economy rebounded in 2021 after contracting in the preceding year due to the COVID-19 shock. However, the country now faces multi-faceted challenges-pandemic scars, headwinds from the war in Ukraine, and climate-related shocks, meanwhile inflationary...