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The IMF has released US $12.5 million after completing its first review of Rwanda’s performance under the Poverty Reduction and Growth Facility. According to an IMF statement, its executive board commended the Rwandan authorities for their “success in maintaining macroeconomic stability with solid growth and low inflation”. The board also welcomed “the strong measures the authorities have taken to address the difficulties in the fiscal area faced in 1999, and to accelerate the structural reforms where progress has been slower than envisaged”. “This has provided the basis for the completion of the review and a consolidation of Rwanda’s good track record of policy performance,” the statement said. It stressed that the IMF expected military spending to be shifted more and more towards social areas “as efforts to promote peace in the region advanced”.
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