Rwanda secures $250m IMF loan to cushion blow from Iran war oil crisis
Rwandan Finance Minister Yusuf Murangwa said if the government does not intervene, prices could rise sharply.
Rwanda and the International Monetary Fund have reached an agreement for a new 38-month extended credit facility worth $250 million aimed at supporting the country's economic policies and reforms, they said on Thursday.
The fund's executive board will meet in June to approve the agreement, Albert Touna Mama, IMF Mission Chief for Rwanda, told a news conference.
Rwandan Finance Minister Yusuf Murangwa said some of the funds would help Rwanda manage the increase in fuel and fertiliser prices resulting from the Iran conflict.
"When it comes to fertiliser... if (the government) does not intervene, prices could rise sharply and that would be a serious problem," Murangwa told the news conference.
The East African nation's economy has grown robustly, with the finance ministry forecasting annual growth exceeding 7% through 2028.