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International Monetary Fund. African Dept.
This Selected Issues Paper analyzes potential macro-financial risks from cross-sectoral exposures in Uganda by leveraging on the Balance Sheet Approach framework. It presents evidence on the macro-financial linkages in Uganda using the Network Map and Financial Input-Output approaches. On the one hand, the Network Map analysis shows the cross-sectoral exposures in which potential build-up of macro-financial vulnerabilities may arise. On the other hand, the Financial Input-Output tool simulates relevant scenarios in the context of Ugandan economy such as currency depreciation and increases in government interest payments on debt held by banks. The purpose of the scenario exercises is to strengthen the monitoring of the developments in key economic sectors in Uganda. While the banking sector, which dominates the Ugandan financial system, remains fundamentally sound, there are pockets of vulnerabilities resulting from the growing sovereign-bank nexus and cross-border exposures of the Near Field Communication technology sector which require close vigilance.
International Monetary Fund. African Dept.
This Selected Issues paper tries to answer the question of how to promote employment in Uganda. It also discusses key stylized facts including labor market challenges, an overview of the labor market, and employment characteristics. Although issues relating to the determinants of employment are gaining momentum in Uganda, the literature is largely based on economic reports and qualitative studies. Uganda has implemented some social programs aimed at creating employment specifically for youth and women, though coverage is limited. These programs aim at providing an enabling environment for the private sector to create jobs and build the skills and requisite knowledge to make youth and women more employable. The existing social programs are good initiatives to address some of the labor market issues, though their coverage remains limited with funding constraints identified as one of the main challenges. Creating quality jobs will require comprehensive policies to promote headline growth and ensure inclusive growth, including measures to improve education and address challenges in gender and youth.
International Monetary Fund
Uganda’s National Development Plan (NDP) stipulates medium-term strategic direction, development priorities, and implementation strategies. It also details Uganda’s current development status, challenges, and opportunities. The contribution of this NDP to the socioeconomic transformation will be demonstrated by improved employment levels, higher per capita income, improved labor force distribution in line with sectoral GDP shares, substantially improved human development and gender equality indicators, and the country’s competitiveness position, among others. The impressive GDP growth performance has contributed to a significant reduction in poverty levels.
International Monetary Fund
This Joint Staff Advisory Note reviews the National Development Plan (NDP) 2010/11 to 2014/15 prepared by the government of Uganda. The NDP is the first in a series of six plans intended to move the country toward the national vision of a transformed modern economy in the next 30 years. The NDP expands on the vision of the earlier Poverty Eradication Action Plans, and was developed through an extensive and broad-based country-driven consultative process over the period 2008–09. IMF staff has recommended some measures to strengthen the NDP and enhance its implementation.
International Monetary Fund
This Joint Staff Advisory Note discusses key priorities for strengthening Uganda’s Poverty Eradication Action Plan (PEAP) and for ensuring its effective implementation. PEAP 2004 describes the participatory process underpinning the development of the PEAP strategy, provides a poverty diagnosis, and presents policy measures, sector plans, costing, and a result-oriented policy matrix for sustainable economic growth and poverty reduction over the 2004/05–2007/08 period. It argues for a shift of the policy focus from recovery to sustainable growth and structural transformation, and presents specific government policies to accelerate poverty reduction.
International Monetary Fund
This paper discusses Uganda’s Poverty Eradication Action Plan (PEAP) 2004/05–2007/08. The PEAP provides an overarching framework to guide public action to eradicate poverty. It has been prepared through a consultative process involving central and local government, parliament, donors, and civil society. The PEAP aims at contributing toward transforming Uganda into a middle-income country. The government's strategy in the short term is aimed at strengthening both agriculture and manufacturing. For agriculture, critical interventions include infrastructure, information and support to farmers’ marketing. For manufacturing, the government will strengthen infrastructure, improve governance, and boost the education of the workforce.
International Monetary Fund
This report summarizes the Annual Progress Report of Uganda on the Poverty Reduction Strategy Paper, which highlights the progress and outcomes of implementation of the Poverty Eradication Action Plan (PEAP) policies and programs. It provides assessments on achievements and problematic areas in implementing the PEAP as well as recommendations on the corrective measures to meet Uganda's poverty reduction targets. It also reviews governance and security, and discusses ways to increase the ability of the poor to raise their income, and to improve the quality of life of the poor.
International Monetary Fund
This Selected Issues paper and Statistical Appendix analyzes poverty and social development in Uganda. The paper reviews recent poverty and inequality trends, examines how poor people are coping with risk and vulnerability, analyzes the relationship between economic growth, structural reform and poverty, and describes the government policies in these areas. The paper also provides a brief overview of major institutional developments in Uganda’s financial sector since 1993 with regard to the legal, accounting, and general regulatory framework in which financial institutions operate.