Скачать или смотреть Rwanda: Foreign reserves slide after mining revenues tumble

Rwanda has said it expects its official foreign exchange reserves, to fall after a dip in the prices of its mineral exports. This month, Rwanda secured an 18-month $204 million standby facility from the IMF to bolster reserves. The IMF said reserves stood at $817 million at the end of March. Rwanda has a policy of keeping its foreign exchange reserves at above three months of import cover. Despite the commodity price shock, Rwanda's economy grew at 6.9 percent in 2015 and is forecast to expand by 6 percent in both 2016 and 2017. The exchange rate has however come under pressure and the current account deficit has widened. Reserves would slide to 3.2 months import cover by the end of 2016 and 2.5 months at end-2017, before rising to 2.9 months by the end of 2018.