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Rwanda's economic miracle

By Deroy Murdock

Deroy Murdock

Rwanda’s Economic Miracle
As America dithers, Rwanda follows the free-market path to prosperity.


Kigali, Rwanda — It must puzzle Rwandans to watch the loud squabbling between and within America’s political parties over keeping old tax cuts for just two more years.

President Obama on Tuesday defended his tax-cut deal with Republican lawmakers by calling them “hostage takers.” Obama’s fellow Democrat, New York congressman Anthony Weiner, complained that the president “seems to go from zero to compromise in 3.5 seconds.”

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The Washington Wrestling Federation is a world away in style and substance from today’s Rwanda. During a four-day visit here, I found that the enthusiastic consensus for pursuing the free-market path out of poverty resembled an Amish barn-raising. Rather than practicing the class warfare that cripples America, Rwandans are pulling together to become prosperous.

“What Rwanda has to offer is really a vision for the private sector,” says Jean-Philippe Kayobotsi, private-sector adviser to President Paul Kagame. “Over the years, we have made drastic reforms to improve the investment climate.” In the World Bank’s Doing Business index, Rwanda was ranked the No. 1 reformer in the world last year and No. 2 this year. Kayobotsi, a University of Chicago Business School graduate, adds, “We intend to continue reforming in order for Rwanda to be the easiest place in Africa to do business. . . . We intend to continue the reform process and deepen the reform process so that, ultimately, we can become the Singapore of Africa.”

With annual growth averaging 8 percent since 2004, Rwanda is becoming increasingly self-reliant. “In 1995,” says Patrick Kabagema of Rock Global Consulting, “foreign aid was 100 percent of the government budget. Today, it’s 40 percent. Give another ten years to Rwanda, and there will be no foreign aid.”

In the World Bank’s 2011 report, Rwanda is tied with America as Earth’s ninth-easiest country in which to start a business. As recently as 2008, Rwanda was ranked No. 71. Overall, Rwanda has moved from the 150th-best place to do business in 2008 to 58th for 2011. Only Georgia (the nation) has scaled that ladder more quickly.

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The Rwanda Development Board promises to register new companies i



    
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