RWANDA’S ECONOMY ON THE RIGHT PATH: IMF

Paul Kagame’s Rwandan administration has been hailed for its performance under the policy support instrument (PSI).

The International Monetary Fund said the authorities were to be commended for meeting all quantitative assessment criteria.

“The performance on indicative targets and structural benchmarks was uneven and it will be important to maintain the momentum of reforms, including on revenue mobilisation while strengthening project implementation,” said the Fund’s statement.

IMF added that the country’s growth in 2015 is expected to remain strong, while the outlook is stable.

“The cautious fiscal stance and monetary policy are consistent with the need to preserve policy buffers.”

The Fund said the framework for the financial year 2015/16 budget was in line with PSI objectives.

“The budget prioritises the public investment program in line with available resources, includes measures to improve domestic revenue mobilization, protects priority spending, and limits the crowding out of credit to the private sector,” said the statement.