Rwanda’s economy seen expanding 8.3% this year, IMF says

KIGALI, Oct 22 (Reuters) – Rwanda’s economy is expected to grow by 8.3% in 2024, the International Monetary Fund (IMF) said on Tuesday, citing growth in the services and construction sectors and a recovery in food crop production.

The east African country mainly relies on sectors such as agriculture and tourism to power its growth.

The IMF also said it had reached a staff-level agreement for Rwanda to receive a combined $185 million worth of funding under two facilities, after the Fund’s executive board signs off on the review, likely in December.

A potential spike in global energy and food prices or a slowdown in the growth of its trading partners could weigh on Rwanda’s growth outlook and “adversely affect the availability of external financing,” the IMF said in a statement. (Reporting by Philbert Girinema, Writing by Elias Biryabarema, Editing by Bhargav Acharya)

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