Rwanda says in talks with IMF for short-term facility to support forex reserves - CNBC Africa

Rwanda says in talks with IMF for short-term facility to support forex reserves

East Africa

by Reuters 0

Rwanda says in talks with IMF. Photo: Wikimedia

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.

"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.

 

(Reporting by Clement Uwiringiyimana; Writing by George Obulutsa; editing by John Stonestreet)

 

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