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Africa > Uganda

You are looking at 1 - 10 of 13 items for :

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Cover IMF Working Papers
Panel Nowcasting for Countries Whose Quarterly GDPs are Unavailable
Omer Faruk Akbal
,
Mr. Seung M Choi
,
Mr. Futoshi Narita
, and
Jiaxiong Yao
Quarterly GDP statistics facilitate timely economic assessment, but the availability of such data are limited for more than 60 developing economies, including about 20 countries in sub-Saharan Africa as well as more than two-thirds of fragile and conflict-affected states. To address this limited data availablity, this paper proposes a panel approach that utilizes a statistical relationship estimated from countries where data are available, to estimate quarterly GDP statistics for countries that do not publish such statistics by leveraging the indicators readily available for many countries. This framework demonstrates potential, especially when applied for similar country groups, and could provide valuable real-time insights into economic conditions supported by empirical evidence.
Keywords:
Developing economies; fragile and conflict-affected states; GDP; low-income countries; nowcasting; sub-Saharan Africa; GDP statistic; panel Nowcasting; data availability; growth data; annex II; data availablity; Commodity prices; Purchasing power parity; Data collection; Export fluctuations; Global
Cover IMF Working Papers
The East African Community: Prospects for Sustained Growth
Ms. Catherine McAuliffe
,
Ms. Sweta Chaman Saxena
, and
Mr. Masafumi Yabara
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out. 
Keywords:
WP; EAC country; EAC member; growth acceleration; EAC economy; EAC growth; Accelerated growth; sustained growth; benchmarking; East African Community; sub-Saharan Africa; EAC integration; exchange rate; private sector; common market; Exports; Financial sector; Government debt management; Productivity; Real exchange rates; Africa; Global
Cover IMF Staff Country Reports
Uganda: Sixth Review Under the Policy Support Instrument and Request for an Extension of the Policy Support Instrument-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda.
International Monetary Fund
This paper discusses key findings of the Sixth Review for Uganda Under the Policy Support Instrument. Structural rigidities continue to pose challenges to macroeconomic management in Uganda. Persistent weaknesses in project implementation coupled with rigidities in domestic financial markets limited the scope for fiscal and monetary stimulus in 2008/09. Progress with structural reforms has been uneven and may not have kept pace with the needs raised by the public investment drive. Macroeconomic policies will continue to aim at overcoming infrastructure bottlenecks while mitigating the impact of external shocks on domestic activity.
Keywords:
ISCR; CR; liquidity management framework; headline inflation; management; market; Uganda's PSI; IMF's framework; program goal; X. exchange rate arrangement; fiscal year; NDP objective; monetary management; upstream JSAN; terms of trade; Public investment and public-private partnerships (PPP); Exchange rates; Infrastructure; Public investment spending; Global; Sub-Saharan Africa
Cover IMF Staff Country Reports
Kenya: Selected Issues and Statistical Appendix
International Monetary Fund
Like most Sub-Saharan African countries, Kenya’s economic growth appears to have been primarily driven by factor accumulation. The Selected Issues paper and Statistical Appendix for Kenya examines economic developments and policies. During the last two decades, Kenya has been plagued by pervasive problems of internal conflicts, constitutional crises, and corruption scandals. The governance agenda focuses on several reforms, including upgrading the public budget and financial management systems, strengthening the anticorruption institutions, and improving the judicial framework.
Keywords:
ISCR; CR; Kenya; pay; inflation; TFP growth; wage bill; Reduced-Form inflation equation; development objective; governance agenda; growth performance; bill-to-domestic revenue; Tariffs; Total factor productivity; Wages; Real exchange rates; Imports; Sub-Saharan Africa; Middle East; Africa; East Asia; Central and Eastern Europe
Cover IMF Working Papers
Assessing Competitiveness and Real Exchange Rate Misalignment in Low-Income Countries
Mr. Mark W Lewis
,
Ms. Aurelie Martin
, and
Gabriel Di Bella
Assessing a country's competitiveness routinely starts with an analysis of the real exchange rate. However, in low-income countries, empirical analysis of the real exchange rate is often subject to important limitations that seriously weaken the results. This paper summarizes the methodologies used to assess real exchange rate misalignments and discusses the range of obstacles common to low-income countries. Recognizing the importance of using a wide range of indicators for assessing competitiveness in low-income countries, the paper discusses alternative competitive measures and then proposes a template of indicators to allow for a systematic assessment of competitiveness in low-income countries. The template is then used to rank countries according to their competitiveness performance in 2006.
Keywords:
WP; cost; CPI; exchange rate; competitiveness; competitiveness assessment; Equilibrium Exchange Rates; Low-Income Countries; RER chg; RER misalignment; equilibrium RERS; RER depreciation; RER indicator; RER equilibrium; RER assessment; RER adjustment; RER appreciation; Competition; Real exchange rates; Exports; Exchange rates; Terms of trade; Global
Cover Policy Papers
The Macroeconomics of Managing Increased Aid Inflows - Experiences of Low-Income Countries and Policy Implications
International Monetary Fund
Investigates the macroeconomic challenges for low-income countries created by a surge in aid inflows. It develops an analytical framework for examining possible policy responses to increased aid, and then applies this framework to the experience of five relatively well-governed countries that experienced a recent surge in aid inflows: Ethiopia, Ghana, Mozambique, Tanzania, and Uganda. Each country’s policies were supported by a PRGF arrangement during most of the period under review.
Keywords:
PP; monetary policy; government spending; current account; treasury bill; aggregate demand; nominal exchange rate; aid inflow; terms of trade; exchange rate appreciation; Real exchange rates; Inflation; Government debt management; Africa
Cover Policy Papers
Review of PRGF Program Design - Overview
International Monetary Fund
Part of the Fund’s periodic reviews of its policy advice to member countries, and responds to calls by Executive Directors for further staff analysis on improving the design of such programs. In the context of the recent discussions on the design of the broad range of Fund-supported programs, Directors also requested more in-depth analytical studies of disaggregated and homogenous groups, as well as a closer look at how progress towards external viability in low-income countries (LICs) can be improved. The review also seeks to address these requests.
Keywords:
PP; private sector; government spending; design issue; nominal exchange rate; exchange rate appreciation; fiscal policy coordination; Inflation; Real exchange rates; Export performance; Sub-Saharan Africa; Asia and Pacific; Global
Cover IMF Working Papers
Financing Uganda'S Poverty Reduction Strategy: Is Aid Causing More Pain Than Gain?
Ms. Mwanza Nkusu
Uganda's market-friendly development strategy and poverty reduction agenda have attracted large financial inflows, including aid. During 2000-02, concerns about a possible aid-induced Dutch disease were heightened by widening macroeconomic imbalances and an upward trend in the real effective exchange rate (REER). This paper shows that the REER remained broadly stable during a 10-year period and nontraditional exports increased remarkably, contrary to the predictions of the Dutch disease model. Also, economic growth was strong. This good performance is attributed to sound macroeconomic policies and important structural reforms, which have allowed an increased use of available production factors.
Keywords:
WP; right; Uganda; ODA; terms of trade; REER; Foreign aid; exchange rates; economic growth; and poverty; ODA flow; terms of trade shock; Uganda shilling; savings-investment balance; ODA inflow; Real effective exchange rates; Exports; Dutch disease; Real exchange rates; Poverty reduction strategy
Cover External Debt and Capital Flight in Sub-Saharan Africa
External Debt and Capital Flight in Sub-Saharan Africa

Abstract

Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.

Keywords:
BOOK; debt; flight of capital; foreign exchange; structural adjustment; debt problem; capital flight estimate; Capital outflows; Debt burden; Debt service; Sub-Saharan Africa; Africa; Global; East Asia; North Africa; Caribbean
Cover Uganda
Uganda
Adjustment with Growth, 1987-94
Ms. Hema R. De Zoysa
,
Mr. Robert L. Sharer
, and
Mr. Calvin A McDonald

Abstract

This paper explores not only the recent adjustment efforts but also the prospects for Uganda in the medium term. It provides an overview of recent economic performance with respect to growth, saving, and investment, and provides an analysis of Uganda's external adjustment efforts. The paper surveys fiscal adjustment and the prospects for a sustainable fiscal position, public enterprise reform, and army demobilization.

Keywords:
OP; GDP; interest rate; CBI trade liberalization; government; investment-GDP ratio; export share; tariff goal; treasury bill market; Commercial banks; Exports; Treasury bills and bonds; East Africa; Southern Africa; Sub-Saharan Africa; Africa