Rwanda M2 Money Supply Growth
Broad money growth (annual %) FM.LBL.BMNY.ZG
Rwanda's m2 money supply growth was 21.58% in 2025, ranked 18th globally. This represents a 15.0% increase from 2024. Data from World Bank, covering 1965–2025.
Overview
Rwanda's m2 money supply growth stood at 21.58% in 2025, a rise of +2.81pp from 2024. Based on recent trends, this figure is projected to reach 21.58% by 2025. Rwanda ranked 18th globally.
Rwanda's M2 money supply growth has experienced significant fluctuations over the past six decades, with an all-time peak of 69.55% in 1995, following the tumultuous post-genocide period. Conversely, the country witnessed a severe economic contraction in 1989, with the M2 money supply growth rate plummeting to -4.17%, a stark contrast to the current growth-oriented environment. As of 2025, Rwanda's M2 money supply growth stands at 21.58%, placing the country at the 18th position globally. This growth rate is comparable to that of Zambia, which stands at 23.20%. Rwanda's economic trajectory is influenced by its regional peers, with Burundi exhibiting a similar growth rate of 23.46%. However, the country's M2 money supply growth rate is expected to remain stable in the short term, influenced by the Central Bank's monetary policy decisions and the country's economic growth trajectory. A significant increase in foreign investment or a substantial boost in domestic economic activity could, however, alter Rwanda's monetary growth trajectory in the long term.
Data & projection
| Year | M2 Money Supply Growth | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 21.81% | - | - |
| 2026* trend | 21.69% | - | - |
| 2025* trend | 21.58% | - | - |
| 2025 | 21.58% | +2.81pp | #18 |
| 2024 | 18.76% | −6.00pp | #83 |
| 2023 | 24.76% | +1.85pp | #111 |
| 2022 | 22.91% | +4.64pp | #114 |
| 2021 | 18.27% | −3.16pp | #114 |
| 2020 | 21.43% | +11.22pp | #121 |
| 2019 | 10.21% | −8.72pp | #100 |
| 2018 | 18.93% | +9.74pp | #139 |
| 2017 | 9.19% | +0.71pp | #83 |
| 2016 | 8.48% | −11.69pp | #76 |
| 2015 | 20.17% | +3.00pp | #139 |
| 2014 | 17.17% | +5.04pp | #136 |
| 2013 | 12.13% | −1.06pp | #91 |
| 2012 | 13.19% | −15.77pp | #99 |
| 2011 | 28.97% | +8.79pp | #142 |
Detected Pattern
Analysis
Rwanda matched the Orthodox Tightening Cycle pattern in 2023. Historically, 57% of countries showing this pattern (177 out of 311) saw m2 money supply growth improve within 24 months. View full analysis →
Frequently Asked Questions
Rwanda's m2 money supply growth was 21.58% in 2025. Ranked 18th globally. This represents a 15.0% increase from the previous year.
Rwanda's m2 money supply growth peaked at 69.55% in 1995.
The lowest m2 money supply growth in Rwanda was -4.17% in 1989.
Rwanda ranks 18th globally in m2 money supply growth as of 2025.
The World Bank indicator code is FM.LBL.BMNY.ZG. Data sourced from World Bank.
Rwanda's m2 money supply growth is projected to reach 21.58% by 2025 based on trend extrapolation.
The m2 money supply growth of Rwanda in 2025 was 21.58%. This ranks 18th in the world.
Cite this page
@misc{historysaid_rwanda_m2-growth,
title = {Rwanda M2 Money Supply Growth},
url = {https://historysaid.com/rwanda/m2-growth/},
publisher = {HistorySaid},
year = {2026}
}