The IMF and Rwanda reached a staff-level agreement enabling Rwanda to access about USD 76.6 mln from the IMF’s RST and USD 88.9 mln from its SCF. Rwanda’s 2023 GDP exhibited strong growth at 8.2%. Inflation has sharply decreased to 4.9% YoY in February from a peak of 21.7% in November 2022, attributed to tight monetary policy and improved food production. Despite this, the current account deficit widened, and the Rwandan franc depreciated by 18% against the USD in 2023. International reserves remained at 4.4 months of prospective imports by the end of 2023.