Prime Minister Edouard Ngirente on Wednesday hosted Aivo H. Andrianarivelo, International Monetary Fund (IMF) Executive Director, in an event the two officials said provided an opportunity to strengthen the funds relationship with Rwanda. Andrianarivelo, who is in the country for a week-long visit, represents the Africa Group 1 constituency, a grouping of 23 sub-Saharan African countries, on the IMF Executive Board. While speaking to the media, the official said that he had held ‘fruitful’ discussions around the challenges of accelerating economic growth following a significant shock stemming from the pandemic. “There is already a very good relationship with the IMF and Rwanda,” he added, “Through this visit, we plan to exchange ideas and also give you assurance of our support to the recovery as we face this pandemic.” Andrianarivelo commended the Government of Rwanda’s recent efforts in implementing the economic recovery fund, citing that he was earlier briefed on its progress by the premier. “As you know Africa, and specifically Rwanda is witnessing a surge in cases. We stand ready to support the country.” To return to its path of stronger growth, he said that Rwanda, like other African countries, needed carefully calibrated domestic policies and stronger support from the international community to recover from the crisis. “Some weeks ago our chief economist of the IMF implemented a plan of funding the vaccination of low-income countries. We are trying to advocate large funding for these countries not only Africa but other small states.” Questioned on further debt relief allocations, Andrianarivelo disclosed that the fund is considering ‘substantial additional financing’, but no further details were provided. Since the outbreak of the pandemic, Minister of Finance Uzziel Ndagijimana pointed out that the IMF has allocated a total of $200 million in interest-free loans.
