I&M Holdings PLC Financial Overview and Strategic Outlook
Economic Review - Rwanda
GDP
2020 GDP is estimated to have contracted by 0.2% and is projected to recover to 5.7%
GDP growth in 2021. This recovery is expected to be driven by improvements in the
business environment and investment in major growth sectors².
Economic Outlook
•
•
The implementation of the
African Continental Free Trade
Area is expected to boost
intraregional trade, which will
support growth-especially if
Rwanda increases its share of
intraregional exports
On the downside, simmering
regional political tensions and a
resurgence of the COVID-19
virus could result in trade
disruptions¹.
Source: afdb ¹Rwanda Economic Outlook. 2IMF Country Report January 2021
M
Policy Measure on Impact of Pandemic
%
$
Demand for new loans dropped by 9 percent y/y in
2020H1, but private sector credit continued to
grow, supported by loan restructuring. Headline
inflation declined to 7.2 percent y/y in October,
driven by a decrease in public transport fares and
moderation of food inflation².
Banking Sector
Banks' non-performing loans (NPLs) ratio stood
at 5.2 percent at end-September, only slightly
above the regulatory benchmark, as they
restructured 45 percent of their loan portfolio².
Holdings
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