Government has informed the International Monetary Fund (IMF) that all monies being spent on dealing with the COVID-19 pandemic has a separate account in the central bank.
A financing item “COVID-19 response” was created under the chart of accounts for tracking crisis-related spending with a separate bank account under the treasury single account system to receive all contributions to the Economic Recovery Plan (ERP).
Government has received loans and grants from the different places to aid the country’s return to normalcy as the pandemic hits the economy. More than 60% of the population lost entire livelihoods – leaving many to depend on direct food deliveries.
So far, government has promised to ensure no single Franc is wasted.
In its Rwanda update this January 4, the IMF says government has committed that pandemic-related expenditures will be audited by the Office of the Auditor General and published by May 2021.
The IMF also says it asked Rwandan authorities to ensure “adequate transparency” about the ownership of the companies that have won the covid-related tenders.
The IMF said: “This could be done by introducing a provision on beneficial ownership information from bidders as part of the tender for the public procurement process and make this information available on the government’s e-procurement website.”