Rwanda: Rwanda Set to Access $35.7m After IMF Review

What the report says

Rwanda has reached a staff-level agreement with the International Monetary Fund on the first review of its Extended Credit Facility programme, a step that could unlock about $35.7 million once the IMF Executive Board approves the review. The report, published by The New Times and distributed by AllAfrica, says the agreement follows Rwanda meeting all measurable targets set for the end of June 2026.

The disbursement would be the first under Rwanda’s 38-month ECF arrangement, which the IMF approved in June 2026 and which totals about $250 million. According to the article, the Executive Board is expected to consider the review in December. IMF Mission Chief Albert Touna Mama said the outcome reflects strong programme performance and continued policy discipline aimed at preserving macroeconomic stability and debt sustainability.

The article also notes that Rwanda’s economy grew by 9.7% in the first half of 2026, while inflation rose to 15.7% in August, well above the central bank’s 5% medium-term target. The IMF said higher oil and fertiliser prices were among the pressures behind inflation, and that tighter monetary policy should continue. The budget deficit fell to 4.8% of GDP in the 2025/26 fiscal year, helped by stronger tax collection and spending control.

Finance Minister Yusuf Murangwa said the programme’s reforms focus on public finance management, domestic revenue mobilisation and debt management. More broadly, the IMF support is intended to help Rwanda manage external shocks while maintaining borrowing at moderate levels.