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Kigali seeks IMF help to boost trade

Published on November 11, 2015

Rwanda is seeking the International Monetary Fund’s help to improve its external trade volatilities, and boost exports.

Over the past few years, the value and volumes of exports have been declining, mainly as a result of trade limitations and external shocks.

“Several things happening at the same time — the slowdown in China, stagnation in the Eurozone because of the debt crisis... — have affected us,” said Claver Gatete, the Minister of Finance and Economic Planning.

Last week, the World Bank and the government signed a concessional loan agreement worth Rwf19 billion ($26 million) to facilitate cross-border trade between Rwanda and Democratic Republic of Congo (DRC), and to rehabilitate Kamembe airport. DRC accounts for up to 80.7 per cent of Rwanda’s total informal cross-border exports. Read more. Source | East African