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Africa > Uganda

You are looking at 1 - 7 of 7 items for :

  • Type: Journal Issue x
  • Debts, External x
  • Fiscal policy x
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Cover IMF Staff Country Reports
Uganda: 2017 Article IV Consultation and Eighth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Uganda
International Monetary Fund. African Dept.
This 2017 Article IV Consultation highlights that Uganda’s recent economic performance has been sound, notwithstanding a slowdown in growth. Real GDP growth is estimated to have slowed to 3.9 percent in FY2016/17, reflecting domestic factors and external headwinds, including the drought in the Horn of Africa. The banking sector remains well-capitalized overall. However, elevated nonperforming loans have constrained bank lending which contributed to the growth slowdown. Food price inflation increased owing to the drought, but core inflation was 5.1 percent in May 2017, in line with the Bank of Uganda’s target. The outlook is broadly favorable. With steadfast policy implementation and assuming improved weather conditions, growth could accelerate to 5 percent in FY2017/18.
Keywords:
ISCR; CR; core inflation; rate; report; food price inflation; payment arrears; inflation outlook; staff appraisal; Bank of Uganda's Monetary Policy Committee; Arrears; Credit; Sub-Saharan Africa; East Africa; Africa
Cover IMF Staff Country Reports
Uganda: Second Review Under the Policy Support Instrument and Request for Waiver 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
Economic growth has recovered, but higher food and fuel prices have sparked a sharp rise in inflation. Monetary policy has been tightened to contain core inflation and effects of the food and fuel price shocks. The government has allowed for scaling up of infrastructure investment spending. The programmed adjustment of fiscal and monetary policies will help put Uganda on a more sustainable medium-term trajectory. Eliminating tax exemptions and incentives will address the revenue gap. The planned oil revenue management framework is encouraging.
Keywords:
ISCR; CR; authority; fiscal policy; debt; deficit; investment project selection; exchange rate; medium term trade balance deficit; debt-burden indicator; macroeconomic fundamentals; Budget planning and preparation; Oil; Inflation; Global; North Africa; Europe
Cover IMF Staff Country Reports
Uganda: Seventh Review Under the Policy Support Instrument, Request for a New Policy Support Instrument and Cancellation of Current Policy Support Instrument: Staff Report; Staff Supplements; 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 Seventh Review Under the Policy Support Instrument (PSI) for Uganda. The medium-term outlook for Uganda remains favorable but risks are on the rise. Growth is expected to rebound to its potential in the coming two years on the heels of a supportive fiscal stance and higher global and regional growth. It remains vulnerable to exogenous shocks as well as to election-related uncertainties. IMF staff supports the authorities’ request for a new three-year PSI to anchor their near- and medium-term policies.
Keywords:
ISCR; CR; request; debt; cancellation; Uganda; real GDP; EAC integration agenda; infrastructure development; psi-supported program; NDP objective; authorities' drive; policy support; monetary management; Public and publicly-guaranteed external debt; Global
Cover Helping Countries Develop
Helping Countries Develop
The Role of Fiscal Policy
Benedict J. Clements
,
Sanjeev Gupta
, and
Gabriela Inchauste

Abstract

Fiscal policy can foster growth and human development through a number of different channels. These include the macroeconomic (for example, through the influence of the budget deficit on growth) as well as the microeconomic (through its influence on the efficiency of resource use). But how precisely do these channels work in developing countries? What kinds of tax and expenditure policies should developing countries implement to help them meet the Millennium Development Goals? And how can international aid be made more effective? Drawing on both theory and country experience, this book brings together IMF research on the various ways fiscal policy can be used to help spur economic development.

Keywords:
BOOK; country; user payment; per capita income; francophone country; recipient country; exchange rate; hazard function; Health care spending; Africa; Western Hemisphere; Sub-Saharan Africa; Global; Asia and Pacific; Fiscal consolidation
Cover IMF Working Papers
Fiscal Sustainability in African HIPC Countries: A Policy Dilemma?
Ms. Annalisa Fedelino
and
Alina Kudina
This paper looks at the link between fiscal policy and debt sustainability in a number of African countries participating in the Heavily Indebted Poor Countries (HIPC) Initiative. The paper finds that, on the basis of current fiscal policies, debt levels will remain unsustainable even after these countries graduate from the HIPC Initiative. This finding has important policy implications. By the very requirements of the HIPC Initiative, these countries are expected to increase significantly their poverty-reducing expenditure-possibly resulting in weaker fiscal primary balances and worsening debt sustainability outlook. As offsetting fiscal tightening may not be viable, ensuring debt sustainability may thus require increased availability of (nondebt-creating) grants. Otherwise, debt sustainability in HIPC countries may prove elusive in the long term.
Keywords:
WP; exchange rate; Debt sustainability; HIPC Initiative; concessional financing; GDP ratio; HIPC completion point; sustainability threshold; debt level; debt ratio; debt-sustainability target; debt problem; creating flow; Fiscal stance; Exchange rate adjustments; Sub-Saharan Africa
Cover IMF Staff Country Reports
Tanzania: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper reviews developments in Tanzania in the main fiscal indicators and related structural reforms to explain the success in fiscal management. The paper contains a brief overview of the structure of the public sector. Main developments in revenue and expenditure are covered. The paper concludes that the rationalization of expenditure programs and the progressive shift from domestic to foreign financing were at the core of Tanzanian macroeconomic stabilization in the second half of the 1990s, contributing to a sharp reduction in inflation.
Keywords:
ISCR; CR; Tanzania; enterprise; debt sustainability; fiscal policy; banking system; bank lending; supply company Ltd.; Tanzania government; enterprises account; commercial bank; Real exchange rates; Real effective exchange rates; Privatization; Fiscal stance; Africa; Southern Africa; Sub-Saharan Africa
Cover IMF Survey
IMF Survey: Volume 28, Issue 17
International Monetary Fund. External Relations Dept.
The rationale for IMF lending to Russia has been widely questioned, as have the record of earlier programs and the use made of previous IMF loans. In the following article, John Odling-Smee, Director of the IMF’s European II Department, explains that the resumed lending was fully justified to support Russia’s most recent economic policies.
Keywords:
SV; structural adjustment Facility; social security reform; ESAF arrangement; contingency financing facility; fund Facility; IMF publication service; country's balance of payments position; Financial sector reform; Corruption; Debt relief; Financial sector; Europe; Asia and Pacific; Central and Eastern Europe; Africa; Global