Anti-Rwanda sponsored propagandist David Murunganwa alias Himbara still lives in the Stone Age era with his primitive thinking that Rwanda or any other African country would collapse without foreign aid. Rwanda is among those countries that set out to run aid-free economies.
Rwanda’s economy is domestically financed to the tune of 63% whereas external loans stand at 24% and foreign aid accounts for only 13% which wouldn’t stop the country from running. When RNC terror group-funded mouthpiece Himbara crafts his lies about Rwanda, he sidesteps prevailing facts that constantly contradict his biased prejudices on Rwanda. The Toronto-based anti-Rwanda propagandist won’t acknowledge the fact that every country on earth wishes to fully finance its budgetary expenditures domestically. It’s against this backdrop that Rwanda deployed all policies and strategies to restrain herself from foreign aid and have her budget financed domestically.
Rwanda is not an isolated island, global economic shocks including the wars in Palestine and Ukraine have had a negative impact on Rwanda, hence the depreciation of her currency. The United Nations Secretary-General’s Global Crisis Response Group- GCRG reported that the current crises in Palestine and Ukraine have led to rising cost of living in all countries due to the instability in food and energy markets. Currencies have been affected including the Rwandan Franc owing to fluctuations in different parts of the world.
In fact, in some African countries, this has led to vicious cycles including social unrest and, thus political instability but for Rwanda, it’s not the case. Rwanda rose above this global economic crisis to use resources at her disposal to draw measures to protect her economy and achieve price stability in her markets. This is rocket science to the self-proclaimed “Professor of Economics” Himbara.
Rwanda deployed sound policies to mitigate economic constraints. According to the latest data released by the Central Bank, Rwanda’s inflation has plummeted to 11.2% representing close to 50% reduction compared to 21.7% recorded in November 2022. The sharp decrease in inflation is attributed to the Monetary Policy tightening in which the Central Bank has maintained its lending rate at 7.5%. Rwanda looks forward to bringing her inflation back to the target band of 2 to 8% by the end of 2023.
The reported shrinking in foreign aid to Rwanda is good news for the country’s quest to operate an aid-dependency-free economy so long as it maintains its ability to domestically finance both the development and recurrent expenditures.
If Himbara were a neutral observer would congratulate President Kagame for ditching foreign aid, but he’s a funded propagandist who spins every Rwanda’s milestone to suit his vendetta-driven stance on Rwanda.
ellenkampire