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Africa > Uganda

You are looking at 1 - 10 of 20 items for :

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Cover IMF Staff Country Reports
Uganda: 2021 Article IV Consultation and First Review under the Extended Credit Facility Arrangement and Requests for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda
International Monetary Fund. African Dept.
The authorities have reacted to the COVID-19 crisis in an appropriate manner, including through increased spending on health and a rollout of the vaccination program. Nevertheless, the deterioration of socio-economic indicators during the pandemic could create scars that would significantly lower growth if left unaddressed.
Keywords:
vis-à-vis nonresident; asset declaration regime; economic reform reform program; business-centric reform; excise duty regime; COVID-19; Credit; Global; Africa
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: Fourth Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria: Staff Report; Staff Supplement; Press Release
International Monetary Fund
The Fourth Review Under the Policy Support Instrument (PSI) for Uganda highlights that the PSI-supported program is on track. All end-December 2011 quantitative assessment criteria were met, as were most of the structural benchmarks. The stance of macroeconomic policy remains appropriate. Monetary tightening, initiated in July 2011 in response to rising inflation, has been effective in reducing demand and price pressures in the economy. High interest rates supported by tighter fiscal policy have strengthened the currency and raised reserve levels.
Keywords:
ISCR; CR; debt; exchange rate; credit growth; growth; price pressure; IMF's executive board; monetary policy; foreign currency; Debt sustainability analysis; Public and publicly-guaranteed external debt; Oil sector; Global
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 IMF Staff Country Reports
Uganda: Third Review Under the Policy Support Instrument and Request for Waiver and 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 discusses key findings of the Third Review Under the Policy Support Instrument for Uganda. All end-December 2007 assessment criteria were met. Macroeconomic performance remains strong and the growth outlook remains positive. IMF staff supports the authorities’ request for waivers of nonobservance of four structural assessment criteria for end-May and end-June 2008. Nonobservance of these assessment criteria was largely owed to changes in program design in light of new information and reassessment of costs and priorities that do not compromise the integrity of the program.
Keywords:
ISCR; CR; request; request for waiver; waiver; authority; implementation capacity; world fuel; financial market instability; modification of assessment criteria; Arrears; Monetary base; Current spending; Global
Cover Policy Papers
Aid Inflows - The Role of the Fund and Operational Issues for Program Design
International Monetary Fund
The paper focuses on the operational implications of high and volatile aid for the design of Fund-supported programs. It provides a conceptual framework that should guide country teams in giving advice to low-income countries on a case-by-case basis, without specific quantitative performance thresholds for the spending and absorption of additional aid. In doing so, it responds to some of the concerns raised by the Independent Evaluation Office (IEO) in its recent evaluation of the Fund and aid to sub-Saharan Africa
Keywords:
PP; crowding out; fiscal policy; priority spending; Dutch disease; Fund-supported program; monetary management; money supply; aid inflow; aid projection; International reserves; Government debt management; Debt sustainability; Inflation; Africa; Sub-Saharan Africa
Cover Les défis macroéconomiques de l’expansion de l’aide à l’Afrique
Les défis macroéconomiques de l’expansion de l’aide à l’Afrique
Repères à l’intention des praticiens
Yongzheng Yang
,
Mr. Robert Powell
, and
Mr. Sanjeev Gupta

Abstract

Au cours des dix prochaines années, les pays africains seront les principaux bénéficiaires de l'augmentation de l'aide extérieure, qui vise à les aider à atteindre les objectifs du millénaire pour le développement. Ce manuel vise à aider ces pays à évaluer les effets macroéconomiques de l'expansion de l'aide et à surmonter les défis qu'ils impliquent. Il se veut une référence pour les responsables, les économistes praticiens sur le terrain et le personnel des institutions financières internationales et des organismes donateurs qui participent à l'élaboration de stratégies à moyen terme pour les pays africains, notamment dans le contexte des documents de stratégie pour la réduction de la pauvreté. Le manuel présente cinq directives principales pour l'élaboration de scénarios d'expansion visant à aider les pays à déterminer les questions politiques importantes pour une gestion efficace de l'augmentation des flux d'aide : comment absorber autant d'aide extérieure que possible, comment augmenter la croissance à court et à moyen terme, comment promouvoir la bonne gouvernance et réduire la corruption, comment préparer une stratégie de sortie pour faire face à une diminution de l'aide, et comment réévaluer régulièrement le dosage de mesures.

Keywords:
ISI; SI; scaling-up scenario; scenario; exchange rate; country; government; revenue
Cover Macroeconomic Challenges of Scaling Up Aid to Africa
Macroeconomic Challenges of Scaling Up Aid to Africa
A Checklist for Practitioners
Yongzheng Yang
,
Mr. Robert Powell
, and
Mr. Sanjeev Gupta

Abstract

Over the next decade, African countries are expected to be the largest beneficiaries of increased donor aid, which is intended to improve their prospects for achieving the Millennium Development Goals. This handbook will help these countries assess the macroeconomic implications of increased aid and respond to the associated policy challenges. The handbook is directed at policymakers, practicing economists in African countries, and the staffs of international financial institutions and donor agencies who participate in preparing medium-term strategies for African countries, including in the context of poverty reduction strategy papers. It provides five main guidelines for developing scaling-up scenarios to help countries identify important policy issues involved in using higher aid flows effectively: to absorb as much aid as possible, to boost growth in the short to medium term, to promote good governance and reduce corruption, to prepare an exit strategy should aid levels decrease, and to regularly reassess the policy mix.

Keywords:
ISI; SI; scaling-up scenario; scenario; exchange rate; country; government; revenue; exchange rate appreciation; revenue effort; aid inflow; Group of Eight country; Real exchange rates; Aid flows; Exchange rates; Public investment spending; Africa; Sub-Saharan Africa; Asia and Pacific; Eastern Europe; Global; government institution; PEM system; sterilization bond; revenue institution
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