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Africa > Uganda

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Cover IMF Staff Country Reports
Islamic Republic of Mauritania: Selected Issues and Statistical Appendix
International Monetary Fund
Statistical data and issues are discussed in this paper. Mauritania reached the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. In July 2004, a new economic team took actions to tighten fiscal and monetary policies. The authorities intend to adopt sound principles for oil revenue management and tracking (various frameworks, such as the one proposed in the Extractive Industry Transparency Initiative, are under consideration). Executive Directors welcomed the authorities’ willingness to prepare for the transition to a more flexible exchange rate.
Keywords:
ISCR; CR; Mauritania; expenditure; price; poverty incidence; poverty-reducing effect; poverty perception; growth record; poverty increase; squared poverty gap; poverty indicator; Oil; gas and mining taxes; Oil prices; Sub-Saharan Africa; C. poverty perception; hydrocarbon sector; Statistical Appendix table; fish catch; I. managing oil wealth
Cover IMF Staff Country Reports
Uganda: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; Uganda; tax; factor cost; capital gain; Uganda police force; basic rate; windfall coffee tax; Income; Agricultural commodities; Imports; Commercial banks; Agroindustries; Global
Cover IMF Staff Country Reports
Mauritius: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper and Statistical Appendix analyzes the labor market of Mauritius. It highlights that the high level of youth unemployment in Mauritius points to deficiencies in education and training. There are also significant rigidities in the functioning of the labor market that aggravate the problem. In particular, the Mauritian labor market is highly regulated and the relevant institutions operate according to a legalistic approach in which economic criteria play a relatively minor role.
Keywords:
ISCR; CR; rate of return; money demand; firm; Mauritian rupee; net acquisition; yield; opening balance; time deposit; cash inflow; opportunity cost; Currencies; Agricultural commodities; Demand for money; Treasury bills and bonds; Caribbean
Cover IMF Staff Country Reports
Rwanda: Recent Economic Developments
International Monetary Fund
The government of Rwanda has recognized that economic development in most areas would have to be the responsibility of the private sector (particularly since military and civil service employment would be reduced), but that the public sector could still have a role in promoting economic equality by providing a social safety net, most importantly with a solvent social security system. Before the conflict in 1994, the private sector has accounted for only about 50 percent of employment in the formal sector, excluding the civil service.
Keywords:
ISCR; CR; U.S. dollar; gross domestic product; sales tax; price index; private sector; tax revenue; economic planning; excess reserves; broad money; tertiary sector; income tax; money market; foreign exchange; Agricultural commodities; Tariffs; Civil service; Exports; Commercial banks; Sub-Saharan Africa; Africa
Cover IMF Working Papers
External Debt Histories of Ten Low-Income Developing Countries: Lessons from Their Experience
Mr. Kevin Ross
,
Mr. R. Brooks
,
Mr. Robert Powell
,
Ms. Ydahlia A. Metzgen Quemarez
,
Ms. Doris C Ross
,
Mr. Mariano Cortes
,
Saqib Rizavi
,
Benoit Ketchekmen
, and
Ms. Francesca Fornasari
The external debt burden of many low-income developing countries has increased significantly since the 1970s. Developments in a sample of ten countries show that the main factors behind the buildup of debt were (1) exogenous (adverse terms of trade shocks or weather), (2) a lack of sustained macroeconomic adjustment and structural reforms, (3) nonconcessional lending arid refinancing policies of creditors, (4) inadequate debt management, and (5) political factors (civil war and social strife). Future policies should limit the need for external financing and create an environment conducive to diversifying export growth, managing debt more prudently, and basing economic projections on more cautious assumptions.
Keywords:
WP; debt; export; price; Niger; Zambia; External Debt; HIPCs; Low-Income Countries; export base; debt-servicing capacity; export receipt; export concentration; debt problem; Bolivia's export earnings; world oil price projection; oil price projection; concessional terms; commodity price projection; financing needs; prudent debt strategy; Export performance; Debt burden; Exports; Agricultural commodities; Global
Cover IMF Staff Country Reports
Uganda: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; Uganda; factor cost; economic development; Uganda shilling; bureau rate; taxable income; windfall coffee tax; natural resources; net factor service income; Agricultural commodities; Income; Imports; Income and capital gains taxes; Africa
Cover IMF Working Papers
Policy towards Commodity Shocks in Developing Countries
Ms. Jan Gunning
and
Mr. Paul Collier
On the basis of a comparative study of 23 episodes involving commodity price shocks we find that both the public and private sectors typically save around half of a windfall gain resulting from a price rise. We argue that private windfalls should be left with the private sector rather than taxed. The focus of policy towards windfalls should be monetary rather than fiscal. The central bank should accommodate aggregate changes in the demand for financial assets. The private sector will initially wish to increase its claims on the central bank as it saves the windfall, but will then reduce them as portfolios are switched into real assets.
Keywords:
WP; private sector; rate; price level; savings rate; financial asset; rate of return; asset demand; investment rate; windfall income; Income; Monetary base; Reserves accumulation; Agricultural commodities; Demand for money; Africa
Cover SDRs, Currencies, and Gold
SDRs, Currencies, and Gold
Sixth Survey of New Legal Developments
Mr. Joseph Gold

Abstract

This paper presents the sixth survey of developments in international and national monetary law and practice involving special drawing rights (SDRs), currencies, and gold. The paper highlights that a member’s currency held by the IMF in accounts other than the General Resources Account is not subject under the IMF’s Articles of Agreement to the principle of maintenance of value in terms of the SDR that applies to currency held in the IMF’s General Resources Account. The IMF has express or implied powers to invest holdings in accounts to which no obligation to maintain value is attached.

Keywords:
PAM; procedure; SDR; currency; exchange rate; unit of account; currency arrangement; SDR concept; gold stock; use of the SDR; Multiple currency practices; Exchange rates; Currencies; Gold; Exchange rate adjustments; Global; Europe; West Africa; Southern Africa; North America; Caribbean
Cover Finance & Development
Finance & Development, December 1979
International Monetary Fund. External Relations Dept.
This paper highlights that the fight against worldwide inflation was the main theme of the Finance Ministers and central bank Governors from 138 member countries that participated in the 1979 Annual Meeting of the IMF’s Board of Governors in Belgrade in October 1979. Unlike the agenda for the 1978 Meeting, which contained a number of single issues, such as quota increases and special drawing rights allocations, requiring specific decisions and action, the 1979 Meeting was devoted principally to a wide-ranging discussion of the world’s economic problems.
Keywords:
FD; F&D; country; enterprise; tranche purchase; state; IDA credit; OPEC country; fund activity; development banking; reserve tranche; Offshore financial centers; Oil; Personal income; Oil exports; Agroindustries; East Africa; Global; Western Europe; Africa; Sub-Saharan Africa
Cover IMF Staff Papers
IMF Staff papers: Volume 13 No. 3
International Monetary Fund. Research Dept.
This paper explores trends in payment imbalances between 1952 and 1964. When desired reserves deviate appreciably from actual holdings, the authorities will sooner or later readjust their economic policies to reduce the magnitude of the deviation. On the assumption that the priorities given in individual countries to domestic and external objectives of economic policy and the attitudes toward the use of various policy instruments remain unchanged, desired reserves would tend to rise chiefly as a result of the increase in the size of expected payments fluctuations. International reserves of all 65 countries of the study rose over the period studied by 2.5 per cent a year. This low rate of increase reflects, however, the large reduction in US reserves. For all countries of the study excluding the United States, the reserves grew by 6.0 per cent a year. Leaving aside the loss of reserves by the United States, reserves of all countries appear, therefore, to have grown roughly in proportion to the value of trade and to the size of payments imbalances.
Keywords:
SP; fund; center; deficit; balance of payments; payments imbalance; export tax; fund member; reserve claim; parity rate; Reserve assets; Tariffs; Gold; Exports; Reserve positions; Africa; Middle East; Asia and Pacific; Western Europe; Europe