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Africa > Uganda

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
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Cover IMF Staff Country Reports
Uganda: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper describes Uganda’s experience under the 2013 Policy Support Instrument (PSI). The current 2013 PSI was approved by the IMF’s Executive Board in June 2013 with an initial duration of three years. Overall, performance under this PSI has been assessed to be satisfactory. Most quantitative assessment criteria were met, and macroeconomic stability maintained. However, the pace of structural reforms slowed down compared with the past, and only about half of the structural benchmarks were ultimately met. The experience shows the importance of ensuring commitment to the reforms, explaining them better, and getting broad-based buy-in to achieve progress.
Keywords:
ISCR; CR; Uganda; debt; IMF-World Bank debt sustainability framework; baseline debt projection; exchange rate; interest rate; government debt; IMF staff; PSI focus; Financial sector development; Double taxation; Tax incentives; Public investment and public-private partnerships (PPP); Global; Sub-Saharan Africa; Africa
Cover IMF Working Papers
Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy
Ms. Era Dabla-Norris
,
Yan Ji
,
Robert M. Townsend
, and
Ms. Filiz D Unsal
We develop a micro-founded general equilibrium model with heterogeneous agents to identify pertinent constraints to financial inclusion. We evaluate quantitatively the policy impacts of relaxing each of these constraints separately, and in combination, on GDP and inequality. We focus on three dimensions of financial inclusion: access (determined by the size of participation costs), depth (determined by the size of collateral constraints resulting from limited commitment), and intermediation efficiency (determined by the size of interest rate spreads and default possibilities due to costly monitoring). We take the model to a firm-level data from the World Bank Enterprise Survey for six countries at varying degrees of economic development—three low-income countries (Uganda, Kenya, Mozambique), and three emerging market countries (Malaysia, the Philippines, and Egypt). The results suggest that alleviating different financial frictions have a differential impact across countries, with country-specific characteristics playing a central role in determining the linkages and tradeoffs between inclusion, GDP, inequality, and the distribution of gains and losses.
Keywords:
WP; participation cost; Gini coefficient; cost of capital; intermediation cost; Financial inclusion; inequality; income distribution; hetergenous agents; optimal contract; credit regime; lending interest rate; Self-employment; Credit; Income inequality; Collateral