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)