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Africa > Uganda

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Cover IMF Staff Country Reports
Uganda: Third Review Under the Policy Support Instrument, Request for Waiver of Nonobservance of an Assessment Criterion, and Request for Modification of Assessment Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
International Monetary Fund
This paper presents key findings of the Third Review for Uganda under the policy support instrument. Monetary policy has been tightened significantly to reduce core inflation, supported by a contractionary fiscal stance. All but one of the seven quantitative assessment criteria were met at end-June; most structural benchmarks were met, although several with delay. Tighter monetary and fiscal policies in the near term aim to reduce inflation rapidly, while medium-term policies strive to create fiscal space to support stepped-up public infrastructure investment.
Keywords:
ISCR; CR; disinflation effort; monetary policy; authority; fiscal policy; EAC partner state; IMF's framework; government finances; macroeconomic fundamentals; safeguards policy; X. exchange rate arrangement; credit growth; Inflation; Budget planning and preparation; Arrears; Commercial banks; Financial Sector Assessment Program; Global
Cover Departmental Papers
Spillover Effects and the East African Community: Explaining the Slowdown and the Recovery
International Monetary Fund
The East African Community (EAC) countries (Kenya, Tanzania, Uganda, and Rwanda) have been affected by the global financial crisis and global recession. The fall in global demand and inflows and tighter liquidity conditions abroad affected the countries in this region as elsewhere in sub-Saharan Africa. But how hard have countries in the EAC been hit? Have the spillovers from the global crisis affected countries in the region as much as other countries in the sub-Saharan region? Have the transmission channels or magnitudes of the spillovers been different across EAC countries? How can these countries return quickly to a path of sustained high growth? What is the role for policy? Would acceleration of regional integration and policy coordination help achieve this goal? Would it make the region less susceptible to shocks? This paper focus on the EAC countries and attempts to address these questions.
Keywords:
DPPP; DP; EAC economy; EAC growth; EAC region; Uganda; Kenya; EAC country; oil price shock; EAC cycle; fiscal policy; Exports; Fiscal stimulus; Oil prices; Fiscal stance; Spillovers; Global; Sub-Saharan Africa; Africa
Cover IMF Working Papers
The New International Financial Architecture and Africa
Mr. Saleh M. Nsouli
and
Ms. Françoise Le Gall
The new international financial architecture can help African countries benefit from globalization, while minimizing the risks, and foster an environment conducive to increased domestic investment and higher sustained growth. This paper highlights the progress that African countries have made in several areas of the new architecture, but it also underscores the considerable way that these countries must go to meet the requirements of the new architecture.
Keywords:
WP; exchange rate; member country; debt relief; country official; Africa; globalization; international financial architecture; a number of country; NBR power; Poverty reduction strategy; Poverty reduction; Exchange rate arrangements; Capital account; Financial Sector Assessment Program; Sub-Saharan Africa; North Africa; East Asia