Country in talks with IMF for short-term facility to support forex reserves

09:05 - 29 April 2016

A photographer takes pictures through a glass carrying the International Monetary Fund (IMF) logo during a news conference in Bucharest in a file photo.

He did not say how much Rwanda is seeking from IMF, or when the deal might be finalised, but said a decision would be taken soon.

Rwanda is in talks with the International Monetary Fund for a short-term credit facility to help it support its foreign exchange reserves in anticipation of them dwindling in future, Finance Minister Claver Gatete said on Friday.

"This is a stand-by short term credit facility. Our situation is still okay. It is still okay because we normally have four-months of imports in terms of reserves," Gatete told a news conference after presenting budget proposals to parliament.