KIGALI, October 10, 2025 – A team from the International Monetary Fund (IMF) has reached a staff-level agreement with officials of the Government of Rwanda on the sixth and final review of a three-year program designed to maintain macroeconomic stability, advance structural reforms, and strengthen economic resilience.

During the visit, the IMF team assessed the government's progress on all reforms and quantitative targets and noted a clear path that the Government has towards safeguarding macroeconomic stability while advancing its development agenda.

Growth is projected to remain robust, inflation contained within the target range, and external balances will besupported by investment-related inflows. It is also noted that recurrent shocks in recent years and financing needs for priority infrastructure projects have placed temporary pressures on fiscal buffers. However, the full implementation of the recently adopted tax package is expected to place the tax-to-GDP ratio on a firm upward path, enhancing domestic resource mobilization and reinforcing debt sustainability.

Borrowing associated with the construction of the New Kigali International Airport will moderately raise public debt in the near term; however, the project represents a strategic investment with significant long-term economic benefits.

The head of the IMF mission, Mr. Albert Touna Mama, hailed  Rwanda's efforts: “Rwanda's economy has proven to be remarkably strong, even in the face of global challenges. The government's consistent and well planned policies have been key to this success. This partnership has helped lay a solid foundation for continued stability and growth, and the IMF remains a committed partner to Rwanda.”

The Minister of State for National Treasury Godfrey Kabera highlighted the program's importance: “This partnership with the IMF has provided a valuable roadmap for our economic policy. By focusing on raising our own revenues, spending wisely, and strengthening our institutions, we have built a more resilient economy. As we complete this program, our focus remains on ensuring that our growth is strong and inclusive.”

The IMF team expressed its gratitude to the Rwandan authorities for their excellent cooperation and the productive discussions.