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Rwanda says in talks with IMF for Short-term Facility to Support Forex Reserves

Rwanda is in talks with the International Monetary Fund for a short-term credit facility to help it support its foreign exchange reserves in anticipation of them dwindling in future, Finance Minister Claver Gatete said on Friday.

Finance Minister Claver Gatete.

"This is a stand-by short term credit facility. Our situation is still okay. It is still okay because we normally have four-months of imports in terms of reserves," Gatete told a news conference after presenting budget proposals to parliament.

He did not say how much Rwanda is seeking from IMF, or when the deal might be finalised, but said a decision would be taken soon.

By Robert Muriisa.

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