On June 8, 2016, the Executive Board of the International Monetary Fund (IMF) completed the fifth review of Rwanda’s economic performance under the program supported by the Policy Support Instrument (PSI)1 and approved an 18-month arrangement under the Standby Credit Facility (SCF)2 for SDR 144.18 million (about US$204 million or 90 percent of Rwanda’s quota).
In completing the review, the Board granted a waiver for a minor and temporary nonobservance of an assessment criteria on the non-accumulation of external arrears. The Board also approved the extension of the current PSI up to the end of 2017. Full Story