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Talks on Rwanda credit facility "very advanced": IMF

The International Monetary Fund is "very advanced" in talks with the Rwandan government on a short-term credit facility to support the East African country if its foreign reserves slide, a senior official said on Thursday.

Rwanda, which relies on farming, foreign aid and modest exports of minerals, has been hit by the slide in global commodity prices and has seen foreign reserves slip while a construction boom has continued to suck in imports.

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Rwanda IMF