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Africa > Uganda

You are looking at 1 - 5 of 5 items for :

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Cover IMF Staff Country Reports
Uganda: Seventh Review Under the Policy Support Instrument-Press Release; and Staff Report
International Monetary Fund. African Dept.
The economy has performed reasonably well in a complex environment. Growth slowed marginally in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments. Growth should nudge up in FY16/17 to 5 percent, low compared to past performance and regional peers. Credit to the private sector has stalled, and non-performing loans (NPLs) have increased, also reflecting domestic government arrears. The current account deficit is fully financed. The Shilling has stabilized after a sharp depreciation in 2015, and international reserve coverage remains adequate.
Keywords:
ISCR; CR; deficit; government; scaling-up of infrastructure investment; deficit target; fell short; supply and use tables; core inflation; East AFRITAC mission; Public investment and public-private partnerships (PPP); Public and publicly-guaranteed external debt; Government finance statistics; Global
Cover IMF Staff Country Reports
Uganda: Staff Report for the 2015 Article IV Consultation and Fourth Review Under the Policy Support Instrument
International Monetary Fund. African Dept.
This 2015 Article IV Consultation highlights that Uganda’s recent economic performance has been favorable. Real GDP growth is projected at 5.24 percent for FY2014/15 supported by a fiscal stimulus and a recovery in private consumption. Annual core inflation increased to 4.75 percent in May, from very depressed levels, mainly fueled by the shilling depreciation pass-through. The current account deficit is set to widen to about 9 percent of GDP reflecting increasing capital goods imports, but international reserves remain adequate. The outlook is promising. Growth is estimated at 5.75 percent in FY2015/16 and an average 6.25 percent over the medium-term.
Keywords:
ISCR; CR; GDP; core inflation; current account; government; real GDP; medium term inflation target; inflation targeting framework; East AFRITAC; inflation consultation clause; authorities' monetary policy; Inflation; Infrastructure; Global; Africa; Sub-Saharan Africa
Cover IMF Staff Country Reports
Uganda: 2008 Article IV Consultation and Fourth Review Under the Policy Support Instrument: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
International Monetary Fund
The staff report for Uganda’s combined 2008 Article IV Consultation and Fourth Review Under the Policy Support Instrument is presented. Building on a foundation of two decades of sound policies, Uganda achieved an impressive economic performance, with high growth, low inflation, and steady poverty reduction. The deteriorating economic environment could expose weaknesses in banks’ risk management practices, gaps in home-host supervisory arrangements, operational risks as financial innovation outpaces banks’ systems and controls, and increasing risk appetite owing to intensifying competition from the surge of new banks.
Keywords:
ISCR; CR; pose downside risk; Uganda; debt; monetary policy; Uganda's economy; fiscal policy tool; IMF's framework; inflation trend; Exchange rates; Monetary statistics; Global; Sub-Saharan Africa; Africa
Cover IMF Staff Country Reports
Uganda: Second Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
International Monetary Fund
Uganda’s medium-term expenditure framework (MTEF) aims at higher public savings based on spending restraint and rising domestic revenue. The Bank of Uganda (BOU) has successfully contained the one-time shocks to prices of increases in electricity tariffs and temporary sugar and diesel fuel shortages. In an environment of strong inflows, price stability remains the primary objective of monetary policy. A shallow financial sector limits Uganda’s ability to absorb foreign exchange inflows and is in itself a formidable obstacle to faster economic growth.
Keywords:
ISCR; CR; Uganda; debt; NPV; real GDP; program objective; PSI-supported program; infrastructure bottleneck; IMF's framework; debt management strategy; private sector; unwavering commitment; Monetary base; Debt sustainability; Africa; Global
Cover IMF Staff Country Reports
Uganda: First Review Under the Policy Support Instrument and Modifications to Assessment Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
International Monetary Fund
The staff report for the First Review under the Policy Support Instrument and Modifications to Assessment Criteria discusses Uganda’s medium-term expenditure framework (MTEF). The MTEF aims at higher public savings based on spending restraint and a rising domestic revenue ratio. The Bank of Uganda (BOU) will rely on a combination of foreign exchange sales and open market operations to sterilize liquidity. Better and more extensive transport networks and expansion of the pool of long-term savings are also critical for sustainable economic growth.
Keywords:
ISCR; CR; government; debt management strategy; PSI-supported program; assistance; strategy; Executive Board discussion; IMF's framework; inflation objective; Balance of payments statistics; Monetary statistics; Government finance statistics; Financial statistics; Global