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Africa > Uganda

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Cover IMF Staff Country Reports
Uganda: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Uganda
International Monetary Fund. African Dept.
This paper analyzes Uganda’s Request for Disbursement Under the Rapid Credit Facility. The Ugandan economy is severely affected by the coronavirus disease 2019 (COVID-19) pandemic. In order to contain the impact of the pandemic, the authorities have increased health spending, strengthened social protection to the most vulnerable, and enhanced their support to the private sector. The Bank of Uganda has appropriately reduced interest rates and provided liquidity to safeguard financial stability, while maintaining exchange rate flexibility. The weakening economic conditions emanating from the Covid-19 pandemic have put significant pressures on revenue collection, expenditure, reserves and the exchange rate, creating urgent large external and fiscal financing needs. The IMF continues to monitor Uganda’s situation closely and stands ready to provide policy advice and further support as needed. The authorities have also committed to put in place targeted transparency and accountability measures to ensure the appropriate use of emergency financing. The IMF’s emergency financial support under the RCF, along with the additional donor financing it is expected to help catalyze, will help address Uganda’s urgent balance of payments and budget support needs.
Keywords:
ISCR; CR; IMF lending tracker; financing; emergency expenditure; emergency financing request; health preparedness plan; IMF's emergency financial support; Credit; Imports; Budget planning and preparation; Global; COVID-19
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