Search

 

Cablegate: Rwanda Reports 9 Percent Gdp Growth; Imf Unsure

VZCZCXYZ0000
PP RUEHWEB

DE RUEHLGB #0663 2871508
ZNR UUUUU ZZH
P 141508Z OCT 09
FM AMEMBASSY KIGALI
TO RUEHC/SECSTATE WASHDC PRIORITY 6363
INFO RUEHXR/RWANDA COLLECTIVE PRIORITY

UNCLAS KIGALI 000663

SENSITIVE
SIPDIS

E.O. 12958: N/A
TAGS: ECON EINV EFIN RW
SUBJECT: RWANDA REPORTS 9 PERCENT GDP GROWTH; IMF UNSURE

1. (U) Rwandan Minister for Finance and Economic Planing
James Musoni told the local press October 14, that the
economy grew 9 percent for the first two quarters of 2009.
This is almost double earlier estimates by the government and
the IMF of 5.3 percent annual growth. Musoni attributed the
growth to strong performance in agriculture and predicted
that over the next few months the economy will grow further
due to substantial new investments in infrastructure and
construction. As a result of the global economic crisis,
Rwandan exports of coffee, tea and minerals declined by 20
percent for the first two quarters, while tourism remained
stable.

2. (SBU) Statistics from the National Institute of Statistics
of Rwanda also showed per capita income has grown above $500
in the first half of the year, compared to $492 in 2008.
Musoni told reporters he was optimistic that by the end of
this year, per capita income will reach $520. IMF Country
Representative Dmitry Gershenson told Econoff that the per
capita statistics were "about right", adding that Rwanda has
"underestimated" GDP for the last couple of years.

3. (SBU) Gershenson could not confirm the government's GDP
growth estimates and admitted that "the 9 percent figure came
as a surprise." He added, "the authorities have not yet
shared their calculations with us, so I cannot attest to the
veracity of their numbers." Gershenson noted that an IMF team
will visit Rwanda in 2-3 weeks and will review the
government's projections.
CASPER

© Scoop Media

 
 
 
World Headlines

 

UN: Decades Of Health Gains At Risk In Brazil Due To COVID-19

Although COVID-19 cases are declining in Brazil, the pandemic is putting decades of public health gains there at risk, the head of the World Health Organization ( WHO ) said on Friday. With global attention and support focused this week ... More>>

UN Report: Myanmar Approaching Point Of Economic Collapse

The turmoil following the military coup in Myanmar, coupled with the impact of COVID-19 could result in up to 25 million people – nearly half of the country’s population, living in poverty by early next year, a United Nations report said on Friday. That ... More>>

World Vision: India’s Second Wave Shows The Global Fight Against COVID-19 Is Far From Won

As India’s COVID-19 daily infection rates reach devastating levels, international aid agency World Vision has warned that the world is nowhere near defeating this virus and some nations are yet to face their worst days. Andrew Morley, World Vision ... More>>

Focus On: UN SDGs

Study: Cut Methane Emissions To Avert Global Temperature Rise

6 May 2021 Methane emissions caused by human activity can be reduced by up to 45 per cent this decade, thus helping to keep global temperature rise to 1.5 degrees Celsius in line with the Paris Agreement on climate change, according to a UN-backed ... More>>

UN: Learning From COVID-19, Forum To Highlight Critical Role Of Science, Technology And Innovation In Global Challenges

New York, 4 May —To build on the bold innovations in science, technology and innovations that produced life-saving solutions during the COVID-19 pandemic, the UN will bring together experts to highlight measures that can broaden the development and deployment ... More>>

What COVID-19 Has Taught Us: “Healthcare Can No Longer Exist Without Technology”

A grandmother in a village in the Gambia should have the same quality of life and access to healthcare they deserve as in New York or London. Photo: InnovaRx Global Health Start-up Works To Bridge Healthcare Gap In The Gambia By: Pavithra Rao As ... More>>