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Africa > Uganda

You are looking at 1 - 10 of 12 items for :

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Cover IMF Staff Country Reports
Kenya: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper examines tax policy and administrative changes in Eastern African Community (EAC) countries with a view to benchmark Kenya’s experience and draw lessons for future tax reforms. Using granular data from a new IMF database on tax measures announced during 1988–2022, it concludes that EAC policymakers frequently changed their tax system and administrations by announcing tax packages that typically consisted of measures to narrow the tax base and strengthen tax administrative practices. Kenya appeared to be one of the EAC countries that most frequently announced and introduced such changes, which might have played a significant role in explaining the reduction in the tax-to-gross domestic product ratio experienced by the country since 2014. The conclusions of this note are subject to caveats, as the frequency of tax measures is not an indicator of the actual revenue impact of such measures. Looking at the frequency of changes, however, can help identify reform episodes providing a sense of their duration and comprehensiveness.
Keywords:
public sector balance sheet methodology; exchange rate shock; public sector balance sheet vulnerability; public sector balance sheet approach; HM Treasury; EAC policymaker; Tax-to-GDP ratio; Financial statements; Exchange rates; Public sector; Fiscal risks; Global; Australia and New Zealand
Cover IMF Staff Country Reports
Maldives: Technical Assistance Report-Revising the Fiscal Responsibility Act
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance report discusses options to revamp the 2013 Fiscal Responsibility Act (FRA), taking into account the challenges posed by the current context in Maldives. The government has not met the FRA’s numerical targets for fiscal deficits and public debt. In order to ensure fiscal sustainability and enhance transparency, the Maldivian authorities are committed to introducing a new FRA in 2021. The Government needs firm and credible targets for debt and fiscal deficits in its debt-reduction efforts; however, past experiences of noncompliance with the numerical fiscal rules has undermined its credibility. A principles-based approach, accompanied by strong accountability requirements, would provide the authorities with the flexibility to respond to adverse macroeconomic developments. The new FRA would clearly define the specific roles of Parliament and the Auditor General in the fiscal responsibility framework. This report suggests enhancing fiscal oversight by strengthening the role of Parliament and the Auditor General. The report also identifies several areas of public financial management that should be addressed in other PFM laws for the successful implementation of the new FRA.
Keywords:
Maldivian authorities; government document; draft FRA need; documentation requirement; FRA draft; government finance statistics manual; Budget planning and preparation; Fiscal reporting; Fiscal risks; Australia and New Zealand; South Asia
Cover Departmental Papers
Macroeconomic Research in Low-income Countries: Advances Made in Five Key Areas Through a DFID-IMF Collaboration
Hites Ahir
,
Hendre Garbers
,
Mattia Coppo
,
Mr. Giovanni Melina
,
Mr. Futoshi Narita
,
Ms. Filiz D Unsal
,
Vivian Malta
,
Xin Tang
,
Daniel Gurara
,
Luis-Felipe Zanna
,
Linda G. Venable
,
Mr. Kangni R Kpodar
, and
Mr. Chris Papageorgiou
Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.
Keywords:
Low-income-countries; Investments; Monetary policy; DPPP; DP; transmission mechanism; exchange rate; IMF economist; interest rate; LIC economy; rate of return; credit entry; IMF country team; IMF gender portal; monetary policy formulation; DFID-IMF monetary policy agenda; LICS face; Public investment spending; Income inequality; Gender inequality; Income; Global; Sub-Saharan Africa
Cover IMF Working Papers
Public Expenditure and Inclusive Growth - A Survey
Mr. Younes Zouhar
,
Jon Jellema
,
Nora Lustig
, and
Mohamed Trabelsi
This paper explores the role of public expenditure in fostering inclusive growth. It starts with a presentation of salient features of public expenditure. Then, it lays out an analytical framework that describes the channels through which public expenditure affects inequality and poverty in the short and long term. Based on a review of the empirical literature, it discusses the policy options. Finally, the paper assesses the role of key factors such as the initial conditions, and the institutions, in shaping the inclusive spending policies.
Keywords:
public expenditure; social spending; inclusive growth; inequality; poverty; mean inequality impact effectiveness; poverty rate; spending policy; policy option; Income inequality; Income; Global; Africa
Cover Departmental Papers
Lessons for Effective Fiscal Decentralization in Sub-Saharan Africa
Mr. Niko A Hobdari
,
Vina Nguyen
,
Mr. Salvatore Dell'Erba
, and
Mr. Edgardo Ruggiero
Fiscal decentralization is becoming a pressing issue in a number of countries in sub-Saharan Africa, reflecting demands for a greater local voice in spending decisions and efforts to strengthen social cohesion. Against this backdrop, this paper seeks to distill the lessons for an effective fiscal decentralization reform, focusing on the macroeconomic aspects. The main findings for sub-Saharan African countries that have decentralized, based on an empirical analysis and four case studies (Kenya, Nigeria, South Africa, Uganda), are as follows: • Determinants and effectiveness: Empirical results suggest that (1) the major driving forces behind fiscal decentralization in sub-Saharan Africa include efforts to defuse ethnic conflicts, the initial level of income, and the urban-ization rate, whereas strength of democracy is not an important determi-nant for decentralization; and (2) decentralization in sub-Saharan Africa is associated with higher growth in the presence of stronger institutions. • Spending assignments: The allocation of spending across levels of gov-ernment in the four case studies is broadly consistent with best practice. However, in Uganda, unlike in the other three case studies, subnational governments have little flexibility to make spending decisions as a result of a deconcentrated rather than a devolved system of government. • Own revenue: The assignment of taxing powers is broadly in line with best practice in the four case studies, with the bulk of subnational revenue coming from property taxes and from fees for local services. However, own revenues are a very small fraction of subnational spending, reflecting weak cadaster systems and a high level of informality in the economy.
Keywords:
national government; IMF government finance statistics database; effectiveness indicator; authorities in South Africa; decentralization reform; Fiscal federalism; Income distribution; Sub-Saharan Africa; Africa
Cover IMF Working Papers
Gender Budgeting: Fiscal Context and Current Outcomes
Ms. Janet Gale Stotsky
Gender budgeting is an approach to budgeting that uses fiscal policy and administration to promote gender equality and girls and women’s development. This paper posits that, properly designed, gender budgeting improves budgeting, and it places budgeting for this purpose in the context of sound budgeting principles and practices. The paper provides an overview of the policies and practices associated with gender budgeting as they have emerged across the world, as well as examples of the most prominent initiatives in every region of the world. Finally, it suggests what can be learned from these initiatives.
Keywords:
WP; government; country; government policy; budget decision; state budget; Gender budgeting; fiscal policies; fiscal administration; government budget decision; government program; government ministry; a number of country effort; government bureaucracy; government activity; budget process; government oversight; Women; Budget planning and preparation; Gender inequality; Sub-Saharan Africa
Cover Policy Papers
Fiscal Policy and Long-Term Growth
International Monetary Fund
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Keywords:
PP; GDP growth; wage; financial crisis; total factor productivity; labor market; tax burden; fiscal policy; Fiscal consolidation; Global; Sub-Saharan 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
Islamic Republic of Mauritania: Selected Issues and Statistical Appendix
International Monetary Fund
Statistical data and issues are discussed in this paper. Mauritania reached the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. In July 2004, a new economic team took actions to tighten fiscal and monetary policies. The authorities intend to adopt sound principles for oil revenue management and tracking (various frameworks, such as the one proposed in the Extractive Industry Transparency Initiative, are under consideration). Executive Directors welcomed the authorities’ willingness to prepare for the transition to a more flexible exchange rate.
Keywords:
ISCR; CR; Mauritania; expenditure; price; poverty incidence; poverty-reducing effect; poverty perception; growth record; poverty increase; squared poverty gap; poverty indicator; Oil; gas and mining taxes; Oil prices; Sub-Saharan Africa; C. poverty perception; hydrocarbon sector; Statistical Appendix table; fish catch; I. managing oil wealth
Cover IMF Staff Country Reports
Rwanda: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Requests for Waiver of Nonobservance of Performance Criteria and for Extension of the Arrangement
International Monetary Fund
The Fourth Review Under the Poverty Reduction and Growth Facility and Requests for Waiver of Nonobservance of Performance Criteria for Rwanda are analyzed. The implementation of policies improved considerably in 2004, although economic performance has been adversely affected by exogenous shocks. Strong activity in construction, transport, and communication raised growth to 4 percent, despite major electricity shortages. Macroeconomic and structural policies will aim at enhancing private sector development and accelerating productivity-enhancing strategies. Fiscal policies will focus on supporting macroeconomic stability and improving the quality of spending through a sizable reallocation to priority areas.
Keywords:
ISCR; CR; PRGF arrangement; priority spending; Congo; staff appraisal; Rwandese authorities; UN Security Council; electricity crisis; Exports; Export competitiveness; Africa