KATHMANDU. The International Monetary Fund (IMF) announced on Thursday that it has reached a staff-level agreement with the Rwandan government for a new 38-month, $250 million program to support economic reforms.
The Extended Credit Facility (ECF) program is still subject to approval by the IMF Executive Board, which is expected to discuss the matter in June.
Touna Mama, IMF mission chief for Rwanda, stated in a release, “The ECF arrangement aims to maintain the pace of reforms, support solid macroeconomic adjustment, and rebuild policy buffers.” It also intends to effectively manage the impact of the war in the Middle East.
The program will focus on three key areas: macroeconomic policy, management of fiscal and debt risks for economic growth, and the promotion of the country’s private sector.
Rwanda saw robust growth of 9.4 percent in 2025, but the Fund expects this figure to drop to 6.8 percent this year as the war in the Middle East impacts Rwanda’s economic outlook.
The country has also been grappling with high inflation, which stood at 9.2 percent last year compared to the previous year.
Since the United States and Israel began the war against Iran on February 28, it has engulfed the region, disrupted supply chains, and caused energy prices to soar.
Earlier this week, the International Monetary Fund warned that the war would have severe consequences for low-income countries, particularly in Asia and Africa.