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Africa > Uganda

You are looking at 1 - 10 of 24 items for :

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Cover IMF Working Papers
The Dynamic Implications of Debt Relief for Low-Income Countries
Mr. Ales Bulir
,
Alma Romero-Barrutieta
, and
Jose Daniel Rodríguez-Delgado
The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with a minimum consumption requirement and an endogenous relief probability, we show that excessive debt accumulation is consistent with an anticipation of a future debt relief. Simulations of the calibrated model using 1982-2006 Ugandan data suggest that debt-relief episodes are likely to have only a temporary impact on the level of debt in low-income countries, while being associated with more consumption and less invesment. The long-run debt-to-GDP ratio is estimated to be about twice as high with debt relief than without it.
Keywords:
WP; debt forgiveness; debt-to-GDP ratio; interest rate; Debt relief; general equilibrium model; small open economy; donor debt-relief policy; productivity shock; debt-relief rule; probability value; debt-relief probability; debt-relief lottery; debt-relief shock; debt-relief scenario; policy rule; Consumption; Productivity; Disposable income; Sub-Saharan Africa; debt-relief episode; debt-relief function; IMF Institute
Cover Policy Papers
Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) - Status of Implementation
International Monetary Fund
This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
Keywords:
PP; NPV terms; completion point; MDRI debt relief; enhanced HIPC Initiative; debt service; post-completion-point HIPCs; Debt relief; Debt service; Exports; Stocks; Debt sustainability; Africa
Cover Policy Papers
Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)- Status of Implementation
International Monetary Fund
This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
Keywords:
PP; MDRI debt relief; NPV terms; enhanced HIPC Initiative; post-completion-point HIPCs; completion point; IMF staff estimate; long-term debt; post-decision-point HIPCs; MDRI assistance; Debt relief; Debt service; Exports; Stocks; Debt sustainability; Africa; West Africa
Cover IMF Staff Country Reports
Uganda: 2006 Article IV Consultation and Staff Report for the 2006 Article IV Consultation, First Review of the Policy Support Instrument, Request for Waiver of Assessment Criteria, and Request for a Three-Year Policy Support Instrument: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
International Monetary Fund
This 2006 Article IV Consultation highlights that an acute electricity crisis threatens Uganda’s macroeconomic performance. The regional drought in 2005/06 reduced Uganda’s already inadequate hydropower-generating capacity, resulting in a production gap of nearly one-half of demand. The authorities have requested a new three-year policy support instrument in support of their near- and medium-term policies. The authorities’ main objectives are to sustain macroeconomic stability while tackling the ongoing electricity crisis and addressing other infrastructure deficiencies to alleviate existing constraints on growth.
Keywords:
ISCR; CR; government; infrastructure bottleneck; PSI-supported program; policy; GDP; Executive Board discussion; government budget strategy; IMF's Policy Support Instrument; Arrears; Infrastructure; Debt relief; Poverty reduction; Sub-Saharan Africa
Cover Global Monitoring Report, 2006
Global Monitoring Report, 2006
Strengthening Mutual Accountability: Aid, Trade, and Governance
International Monetary Fund

Abstract

This third edition of the Global Monitoring Report examines the commitments and actions of donors, international financial institutions, and developing countries to implement the Millennium Declaration, signed by 189 countries in 2000. Many countries are off track to meet the Millennium Development Goals, particularly in Africa and South Asia, but new evidence is emerging that higher-quality aid and a better policy environment are accelerating progress in some countries, and that the benefits of this progress are reaching poor families. This report takes a closer look at the donors' 2005 commitments to aid and debt relief, and argues that rigorous, sustained monitoring is needed to ensure that they are met and deliver results, and to prevent the cycle of accumulating unsustainable debt from repeating itself. International financial institutions need to focus on development outcomes rather than inputs, and strengthen their capacity to manage for results in developing countries.

Keywords:
MISC RPT; MISC; State party; private sector; governance system; low-income country; state; country; country system; governance indicator; investment climate; Global; Africa; Sub-Saharan Africa; South Asia; East Asia; Corruption; Debt relief; Infrastructure; middle-income country; Caribbean
Cover Policy Papers
Review of Low-Income Country Debt Sustainability Framework and Implications of the Multilateral Debt Relief Initiative (MDRI)
International Monetary Fund
This paper reviews the experience with the joint IMF-World Bank Debt Sustainability Framework for low-income countries, including cooperation between the staffs, and highlights the implications of the Multilateral Debt Relief Initiative.
Keywords:
PP; debt distress; MDRI country; debt accumulation; distress rating; DSF debt threshold; debt sustainability; debt indicator; Fund country team; Debt sustainability; Debt sustainability analysis; Debt burden; Debt relief; Global; South Asia; South America; Africa
Cover IMF Staff Country Reports
Uganda: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Request for a 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 Uganda’s Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), Request for Waiver of Performance Criteria, and Request for a Policy Support Instrument (PSI). Performance relative to the sixth and final PRGF review was satisfactory. The authorities request waivers for two performance criteria that were not observed by small margins. Corrective measures will be undertaken during 2006. The authorities have also requested a PSI to begin immediately after the current PRGF arrangement expires.
Keywords:
ISCR; CR; government; core poverty reduction spending; monetary policy; Medium-term Competitiveness Strategy; PRGF arrangement; PSI framework; year PSI program; Arrears; Poverty reduction; Debt relief; Global
Cover Policy Papers
Uganda - Staff Assessment of Qualification for the Multilateral Debt Relief Initiative
International Monetary Fund
Uganda reached the completion point under the enhanced HIPC Initiative on May 1, 2000. Staff is of the view that all criteria are met, and recommends that the Board determine that Uganda qualifies for immediate debt relief under the MDRI.
Keywords:
PP; PAF expenditure; Uganda's Poverty Eradication Action Plan; HIPC assessment; HIPC assistance; poverty reduction policy; PRGF arrangement; Debt relief; Public and publicly-guaranteed external debt
Cover IMF Working Papers
Does the World Need a Universal Financial Institution?
Mr. James M. Boughton
All financial institutions specialize, in dimensions that may include categories of assets and liabilities, types of services offered, customer demographics, and geographic coverage. The International Monetary Fund is the only international financial institution that is universal in its geographic scope, prepared to lend on request to virtually any country in the world. Why has this status come about? What are its costs and benefits? Is it an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?
Keywords:
WP; IMF financing; member country; IMF lending; IMF operations; development goal; IMF creditor
Cover Policy Papers
Heavily Indebted Poor Countries (HIPC) Initiative--Status of Implementation
International Monetary Fund
NULL
Keywords:
PP; HIPC Initiative; debt service indicator; Inter-American Development Bank; debt-service ratio; HIPC country document; HIPC debt relief; debt service reduction; enhanced HIPC Initiative; poverty reducing expenditure; IDA debt service; Debt service; Poverty reduction; Debt relief; Debt reduction; West Africa; Central America; Africa