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Uganda: Third Review Under the Policy Support Instrument, Request for Waiver of Nonobservance of an Assessment Criterion, and Request for Modification of Assessment Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2012: Issue 125
Language:
English
Publication Date:
05 Jun 2012
DOI:
https://doi.org/10.5089/9781475503975.002
ISBN:
9781475503975
ISSN:
1934-7685
Pages:
71
Keywords:
ISCR; CR; disinflation effort; monetary policy; authority; fiscal policy; EAC partner state; IMF's framework; government finances; macroeconomic fundamentals; safeguards policy; X. exchange rate arrangement; credit growth; Inflation; Budget planning and preparation; Arrears; Commercial banks; Financial Sector Assessment Program; Global
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This paper presents key findings of the Third Review for Uganda under the policy support instrument. Monetary policy has been tightened significantly to reduce core inflation, supported by a contractionary fiscal stance. All but one of the seven quantitative assessment criteria were met at end-June; most structural benchmarks were met, although several with delay. Tighter monetary and fiscal policies in the near term aim to reduce inflation rapidly, while medium-term policies strive to create fiscal space to support stepped-up public infrastructure investment.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund