Rwanda said on Wednesday it had asked the International Monetary Fund to offer it a short term facility worth $200 million to help fend off foreign exchange risks in case the country's reserves dwindled.
Country says eyeing $200M worth of short-term facility from IMF
"The IMF facility is actually to help us not going into problems and that facility is $200 million," Finance Minister Claver Gatere said at a post-budget press briefing in the capital Kigali.
The central African state has previously said it had approached the IMF for help but had not revealed the amount involved.
Gatere said Rwandan authorities expected the IMF to announce a decision on their request "tonight" (Wednesday).
In the budget speech, Gatere said Rwanda's overall expenditure in 2016/17 fiscal year would rise to 1.95 trillion francs ($2.60 billion) from 1.81 trillion francs in the year ending this June.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Obama, Clinton support Biden at NYC fundraiser amid protests
Tinubu’s refusal to celebrate 72nd birthday marks great leadership - Rahman
Adamawa Police reaffirms ban on motorcycles in Yola
You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72
170 electrical vandalism cases in 2 years, 100 charged to court - EEDC
Tinubu appoints Bello as chairman of code of conduct bureau
Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics
Lagos postpones eagerly anticipated Easter boat regatta indefinitely
Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister
Pulse Sports
Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?
I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream
Michelle Alozie: I had to do it because of African referees
AC Milan star reveals he was named after Super Eagles legend Tijani Babangida
Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana
Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana
ADVERTISEMENT