Rwanda: IMF Executive Board Completes Third Review Under the Policy Coordination Instrument (Pci) for Rwanda

16 December 2020

International Monetary Fund (Washington, DC)

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Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded on December 16, 2020 the third review of Rwanda's program supported by the IMF's Policy Consultation Instrument (PCI) [1] . The PCI program was approved on June 28, 2019 (Press Release No.19/258) to support the implementation of Rwanda's National Strategy for Transformation (NST).

Rwanda continues to grapple with the fallout from the COVID-19 pandemic. Real GDP contracted by 4.4 percent year-on-year in the first half of 2020; but a recovery is afoot following the end of the full lockdown in the second half. As a result, real GDP growth is expected to be slightly negative at -0.2 percent in 2020, and is projected to rebound to 5.7 in 2021, albeit below potential.

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