Rwanda

Balance of payments

The current account balance in relation to GDP was consistently negative through the 1990s, not only because of the 1994 genocide. Although the economy improved dramatically post-1994, export earnings in the early 2000s were hindered by low international coffee prices, depriving the country of hard currency. Rwanda's external debt stood at $1.3 billion in 2000. In the same year, Rwanda became eligible for $810 million in debt service relief from the IMF/World Bank Heavily Indebted Poor Countries (HIPC) initiative. In 2002, the IMF approved a three-year $5 million loan to Rwanda.

The US Central Intelligence Agency (CIA) reports that in 2001 the purchasing power parity of Rwanda's exports was $61 million while imports totaled $248 million resulting in a trade deficit of $187 million.

The International Monetary Fund (IMF) reports that in 2001 Rwanda had exports of goods totaling $93 million and imports totaling $245 million. The services credit totaled $50 million and debit $189 million. The following table summarizes Rwanda's balance of payments as reported by the IMF for 2001 in millions of US dollars.

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