KIGALI (Reuters) - Rwanda's economy is set to grow 7.1 percent in 2013, lower than previously thought after donors suspended aid over Rwanda's alleged support for rebels in the Democratic Republic of Congo, its central banker forecast.
Donors froze aid worth $240 million in the second half of 2012 - roughly 11 percent of the country's budget, the government has said.
The central bank had previously forecast close to 8 percent growth in 2013.
"Because of this aid cut...the economy is likely to be impacted to come down to 7.1 percent for this year," Bank of Rwanda Governor Claver Gatete told a news conference on Friday.
Last December, Finance Minister John Rwangombwa said economic growth could slow to as low as 6 percent this year as a result of the aid freeze.
On Thursday, Rwangombwa revised upwards its national budget after accounting for expected proceeds from a sovereign bond which offset a decline in the suspended aid.
The African Development Bank and World Bank have still not said whether they will disperse outstanding aid contributions worth a combined $165 million. The World Bank board will meet to discuss aid to Rwanda on February 19.
Rwanda has repeatedly rejected allegations made by U.N. experts that senior Kigali officials have created, equipped, trained and directly commanded the M23 rebel movement which last month briefly seized the eastern Congolese city of Goma.
Germany earlier this month said it was unblocking 7 million euros in frozen aid. Other donors including the European Union and United Kingdom have not yet followed suit.
Gatete said Rwandan franc lost more than 4 percent against the dollar as a result of the aid suspension.
Source: http://news.yahoo.com/rwanda-aid-cuts-reduce-2013-growth-7-1-152614110--business.html
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