The National Institute of Statistics of Rwanda, the International Monetary Fund, the World Bank, and the US government have all issued reports that leave no room for doubt. General Paul Kagame is currently facing an extremely complex and challenging situation. From mounting food insecurity to dwindling foreign aid and donor soft loans, as well as political isolation, the issues at hand are numerous and pressing. This is a critical moment for Kagame, as he has never faced such a daunting array of challenges before.
Did you know that the National Institute of Statistics of Rwanda has reported a whopping 53% increase in the prices of fresh products? That’s a significant jump, right? But wait, it gets worse! The International Monetary Fund has stated that Rwanda’s macroeconomic imbalances have become worse. And if that wasn’t enough, the structural decline of foreign aid and donor soft loans is making matters even more challenging. To add to the country’s woes, the World Bank has ranked Rwanda among the top 10 countries that have been hit the hardest by food inflation. And it doesn’t stop there! The World Bank has also reported that Rwanda’s data on foreign direct investments is falsified. Lastly, the United States government has determined that the Rwanda Defence Force’s 3rd Division invaded DR Congo to support the M23 militia in 2022. Quite a lot to take in, isn’t it?
Over 50% of the population lives below the international poverty line of just US$2.15 a day.
Have you heard about the recent 53% increase in the prices of fresh products in Rwanda? It’s hard to imagine how the people there are coping with this tough situation. Did you know that Rwanda is ranked as the tenth poorest country in the world by the World Bank? Shockingly, over 50% of the population lives below the international poverty line of just US$2.15 a day.
Stay tuned for more updates on this developing situation.
Educator, Author, and Consultant in Socioeconomic Development & Governance. Affiliated Scholar at New College, University of Toronto, Canada.