Rwanda
East Africa inches closer to monetary union
Progress report indicates some reform but many remaining issues; IMF officials flag problem areas and offer advice on shape of financial stability authorities
Financial inclusion in Rwanda rising, central bank report says
ATMs and mobile money has helped reduce the number of those financially excluded, governor says; banking sector starting to benefit but high proportion of NPLs in some sectors is a concern
East African governors praised for balancing act
Central bank heads in region have “done extremely well”, Kaberuka says; panellists at Bank of Uganda event debate central bank mandates and role in development
Measures needed to keep married women in wage sector in Sub-Saharan Africa, paper finds
Working paper examines gender gap in labour markets in Burkina Faso, Ghana, Mauritius, Rwanda and Zambia; finds education opens opportunities, but they can diminish after marriage
Domestic inflation remained ‘benign’ in 2015 – Rwandan statement
Inflation in Rwanda continued to record “moderate” and “low” levels throughout last year; current monetary policy stance “justified”
EAC officials highlight exchange rate pass-through concerns
Both central banks wary of potential for domestic inflation to increase in face of depreciating currencies; concerns over impact of external environment raised in EAC member statement
East African governors say structural measures needed to stabilise currencies
Senior central bank officials from Burundi, Kenya, Rwanda, Tanzania and Uganda identify measures necessary to ensure long-term stability of their currencies
East African countries top Brookings table on inclusion
Study by think tank in Washington, DC, evaluates inclusion efforts in 21 diverse countries; Kenya, Rwanda and Uganda achieve high scores across categories
IMF calls on East African Community to explore risk-sharing
Paper explores the nature and prevalence of asymmetric shocks in the EAC, concluding it is ‘critical’ it has shared mechanisms for absorbing them when its members form a monetary union
WEF panel in Africa values sound public policy over money
Outgoing African Development Bank president Donald Kaberuka says good policy crucial to development; World Bank vice-president Makhtar Diop says financing costs unfairly high
WEF panel sets out plan to develop African capital markets
Rwanda governor says more domestic savings and deeper markets necessary for development; private sector participants praise integration in East Africa
Rwandan paper maps out path to financial inclusion
National Bank of Rwanda vice-governor says ‘meaningful’ financial inclusion is measured by constant usage, which ‘lags behind access in most of the cases'
Rwandan governor: East African Monetary Union progressing ‘as planned’
John Rwangombwa says there are ‘big gaps’ between the five member states of the East Africa Community, but he is ‘comfortable’ with the progress towards closing them
IMF and EAC partner up to improve regional statistics
The East African Community will receive technical assistance from IMF in effort to improve its collection of government finance statistics; Rwandan governor says partnership is ‘important’
Rwandan central bank sees inflation and interest rates drop in H1
Semi-annual financial stability statement finds reasons to be cheerful as inflation comes in below target and market rates fall, in line with monetary policy
South Sudan to East African Community: ‘do not reject us’
East African Community sends 'high level technical mission' to South Sudan in first step of a accession process which it expects will be 'tedious'
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region
East Africa takes more steps on path to integration
East African Community agrees to expand its relationship with a regional counterpart; implements new project to harmonise payment and settlement systems
East African Community secures €4.5 million EU loan
The deal is aimed at bolstering regional integration and forms part of bigger effort to bind African markets closer together
Rwanda will keep easy policy while inflationary pressures are ‘limited’
National Bank of Rwanda introduces forward guidance in its latest semi-annual monetary policy statement; outlines plans to improve monetary policy transmission mechanism
East African states strike deal over monetary union
Political leaders from Burundi, Kenya, Rwanda, Tanzania and Uganda sign protocol outlining the path towards an East African single currency area
IMF paper discerns East African transmission mechanisms
Transmission mechanism ‘functions best' when signals are clear and the monetary regime simple and coherent; non-monetary factors are ‘main drivers' of macroeconomic outcomes in examined countries
IMF working paper calls for consistency in East African monetary policy
Study into monetary transmission mechanism in the East African Community finds policy tools often used in a contradictory manner
National Bank of Rwanda highlights payments progress
The number of ATMs, points of sale and debit cards in use has grown rapidly