The International Monetary Fund (IMF) staff team led by Emre Alper and Laure Redifer, visited Kigali from September 20 to October 2 to conduct discussions on the tenth and final review of Rwanda\u2019s Policy Support Instrument (PSI) -supported program. <\/p>\n
The PSI is an instrument of the IMF designed for countries that do not need balance of payments financial support.<\/p>\n
Laure Redifer who led the IMF visiting team said that while Rwanda\u2019s economy grew by 8.6 % in the first half of 2018, there is hope for Rwanda to achieve its projected 7.2 year growth.<\/p>\n
\u201cAfter rising to 6.1 percent in 2017, real GDP growth averaged 8.6 percent in the first half of 2018, consistent with the projected end-year growth rate of 7.2 percent in 2018. Robust growth in 2018 reflects strong industrial activity, notably construction. Inflation remains low, in part reflecting favorable food price developments, and is projected to average around 2.8 percent in 2018,\u201d he said.<\/p>\n
Redifer explained that inflation is expected to remain close to the medium-term inflation target because the Central Bank of Rwanda kept the monetary policy stance unchanged in September, maintaining the policy rate at 5.5 percent through 2018.<\/p>\n
Redifer said \u201cRwanda\u2019s external buffers remain strong. The authorities have undertaken policies to improve Rwanda\u2019s competitiveness, diversify production, promote exports, and contain imports.\u201d<\/p>\n
\u201cWith export growth of 17.9% in the year to August 2018, and import growth of 7.4%, the trade balance has continued to improve,\u201d he said.<\/p>\n
Laure Redifer said Rwanda met targets of PSI.<\/p>\n
\u201cImplementation of Rwanda\u2019s PSI-supported macroeconomic program has been strong. All quantitative targets for the tenth and last review were met, and structural benchmarks are expected to be completed. The PSI-supported program has been successful in supporting Rwanda\u2019s overarching objective of sustaining inclusive growth and poverty reduction,\u201d Redifer revealed.<\/p>\n
Rwanda\u2019s Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana said that according to the economic growth projections Rwanda had in the past five years, Rwanda\u2019s GDP will keep growing.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rwanda\u2019s economy is projected to keep growing after its GDP has averaged 8.6 percent in the first half of 2018. The Inflation also is projected to remain low after its 5.5 percent monetary policy rate remained unchanged in September this year observed an International Monetary Fund (IMF) staff team that concluded a two week visit in Rwanda. <\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[69],"byline":[2846],"hashtag":[],"class_list":["post-38259","post","type-post","status-publish","format-standard","hentry","category-news","tag-homehighlights","byline-olga-ishimwe"],"bylines":[{"id":2846,"name":"Olga Ishimwe","slug":"olga-ishimwe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":2846,"name":"Olga Ishimwe","slug":"olga-ishimwe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/38259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=38259"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/38259\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=38259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=38259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=38259"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=38259"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=38259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}