IMF welcomes Rwandan central bank’s Covid response

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Rwandan central bank governor

NBR governor John Rwangombwa

Rwanda’s central bank has acted to contain the worst economic effects of the Covid-19 pandemic, says an International Monetary Fund staff report.

The staff report, issued on January 4, projects that Rwanda’s GDP will contract by 0.2% in 2020, compared with the IMF’s previous projection of 8% growth.

The National Bank of Rwanda’s monetary policy committee cut its policy rate by 50 basis points to 4.5% at its April meeting, but has left it unchanged since. The NBR governor is John Rwangombwa

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