See also:
» 11.06.2010 - Rwanda women win by formalising businesses
» 18.02.2010 - Rwanda hosts 2010 global environment day
» 11.02.2010 - Rwanda to get first eID in six months
» 06.08.2009 - British funding to secure land peace in Rwanda
» 03.08.2009 - Rwanda approved for further $1.8 million support
» 10.04.2006 - Rwandan coffee notes successes on US market
» 17.05.2005 - Rwanda gets 100% debt relief
» 07.06.2004 - Efforts to provide Rwandans with clean water

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Agriculture - Nutrition | Economy - Development

Strong growth in Rwanda's subsistence agriculture

afrol News, 16 June - As the Rwandan economy is achieving significant growth, mainly in the subsistence agriculture sector, the IMF has approved a new disbursement for the country's poverty reduction programmes.

The International Monetary Fund (IMF) today announced it had reviewed Rwanda's economic performance under the Poverty Reduction and Growth Facility (PRGF) arrangement. The positive assessment resulted in an agreement that enables Rwanda to draw up to US$ 810,000 under the arrangement immediately, the Fund said.

In commenting on the IMF's discussion on Rwanda, Eduardo Aninat, IMF Deputy Managing Director, said that, "given Rwanda's difficult social conditions, rapid progress in reducing poverty and achieving sustainable economic growth remains critical."

Developments during 2002 had been encouraging: strong growth in subsistence agriculture delivered substantial relief to Rwanda's poor, inflation was kept at a low level, and large inflows of external assistance helped strengthen the country's official reserves position.

- This performance reflected both a creditable policy implementation and the impact of favourable climatic conditions, said Mr Aninat. "In particular, substantive revenue measures were implemented that constitute an important step toward fiscal sustainability, and meaningful actions were taken to strengthen the administration of the public finances and the banking sector.

The IMF official however reminded the Rwandan government that its "active contribution to the procurement of peace in the region will be important for securing donor aid and improving the investment climate in the region."

- With a challenging social and political transition now under way, continued implementation of strong policies is needed to maintain macroeconomic stability and to lay the foundations for sustained economic growth and poverty reduction, said Mr Aninat.

The Rwandan government had informed the IMF that monetary policy would aim at keeping inflation low in 2003. Fiscal policy was to seek a further strengthening of the government's domestic revenue base, while providing resources to support exceptional operations - including elections and continued demobilisation of the military - and priority expenditures in critical social areas.

In addition, Rwanda's 2003 economic program envisaged additional measures to strengthen public financial administration and to addresses weaknesses in the banking system.

- The continued support of the international community, through technical and financial assistance, will be critical to Rwanda's economic reconstruction, said Mr Aninat. Prudent economic management and satisfactory progress with structural reforms would "facilitate such support."

Much progress had been made in implementing the structural reform agenda, the IMF official said, "but progress has been slow in some areas mainly because of capacity constraints. High priority would need to be given to the implementation of the policies set out in the Poverty Reduction Strategy Paper, particularly those for boosting private investment and trade and diversifying the export base of the economy," Mr Aninat concluded.

Rwanda's Poverty Reduction and Growth Facility (PRGF) arrangement was approved on 24 July 2002, for US$ 5.6 million. So far, Rwanda has drawn about US$ 815,000 under the arrangement. With today's IMF decision, this may however be doubled within short. PRGF loans carry an annual interest rate of 0.5 percent and are repayable over 10 years with a 5 ½-year grace period on principal.

- Create an e-mail alert for Rwanda news
- Create an e-mail alert for Agriculture - Nutrition news
- Create an e-mail alert for Economy - Development news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at