Rwanda’s economy remains resilience in the face of multiple shocks. The authorities under the 36-month Policy Coordination Instrument (PCI), completed in December 2025, sustained a strong track record of policy implementation which anchored macroeconomic stability. However, sustaining development ambitions while building buffers has proven more challenging given tighter financing conditions. The war in the Middle East only compounds these challenges. As a result, with Rwanda facing a protracted balance-of-payments need, the authorities have requested a 38‑month Extended Credit Facility (ECF) arrangement to provide temporary financing and a credible policy anchor to support orderly adjustment. The authorities consider the ECF to be the most suitable instrument to address their needs at this juncture.
International Monetary Fund. European Dept. (2026) studied this question.