International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Jan 18, 2023

International Monetary Fund (IMF) Executive Board Concludes the Combined Second and Third Reviews under the Extended Credit Facility Arrangement for Uganda

The completion of the combined 2nd and 3rd reviews allowed an immediate disbursement equivalent to SDR 180.5 million, about US$240 million

The Executive Board of the International Monetary Fund (IMF) concluded the combined second and third reviews under the ECF Arrangement for Uganda. Further, the Executive Board granted a waiver of nonobservance of a performance criterion on the stock of net international reserves of the Bank of Uganda. The completion of…

Source: International Monetary Fund (IMF) | Dec 21, 2022

International Monetary Fund (IMF) and Uganda Reach Staff-Level Agreement on the Combined Second and Third Reviews under the Extended Credit Facility Arrangement

The Bank of Uganda (BoU) has tightened the policy rate in recent months and announced its readiness to take appropriate action to contain second-round effects of higher global prices

A staff team from the International Monetary Fund (IMF) led by Mr. Malhar Nabar conducted a virtual mission to Uganda from October 31 - November 22, 2022 to discuss progress on reforms and the authorities’ policy priorities in the context of the combined second and third reviews under the Extended Credit…

Source: International Monetary Fund (IMF) | Mar 10, 2022

IMF Executive Board Concludes First Review Under the Extended Credit Facility Arrangement and 2021 Article IV Consultation with Uganda

The completion of the first review allowed an immediate disbursement for budget support

The Ugandan authorities are implementing their reform agenda steadfastly, in a complex environment still marked by the pandemic, and remain committed to the Extended Credit Facility Arrangement; The IMF Board today completed the first review of the ECF Arrangement and 2021 Article IV Consultation with Uganda. Approval of the first…

Source: International Monetary Fund (IMF) | May 06, 2020

Coronavirus - Uganda: International Monetary Fund (IMF) Executive Board approves a US$491.5 Million Disbursement to Uganda to address the COVID-19 Pandemic

The authorities have timely scaled up health spending and put in place bold measures to help contain and mitigate the spread of the disease

The Ugandan economy is severely affected by the COVID-19 pandemic; to address the urgent balance-of-payments and fiscal needs, the IMF approved US$491.5 million emergency assistance for Uganda under the Rapid Credit Facility; the authorities have timely scaled up health spending and put in place bold measures to help contain and…

Source: International Monetary Fund (IMF) | Oct 10, 2019

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

The financial sector remains healthy, reinforced by Bank of Uganda’s strong supervision

A delay in oil sector investments could weigh on economic growth which is currently trending at 6 percent; The government needs to identify concrete measures to offset revenue shortfalls in this year’s budget to safeguard its fiscal targets and prevent domestic arrears; The financial sector remains healthy, reinforced by Bank…

Source: International Monetary Fund (IMF) | Dec 17, 2018

Looking Ahead to Chart Today’s Course: The Future of Work in sub-Saharan Africa

Opening Remarks by Christine Lagarde, Managing Director, International Monetary Fund

As Prepared for Delivery Introduction Thank you, Minister Gyan-Baffour, for that kind introduction. I would like to extend my sincere gratitude to Vice-President Bawumia and the Ghanaian government for co-hosting this conference with the IMF. Your excellency, Vice-President Bawumia, Minister Gyan-Baffour, honored guests — it is my pleasure to welcome…

Source: International Monetary Fund (IMF) | May 31, 2018

International Monetary Fund (IMF) Staff Concludes Visit to Uganda

Monetary policy targets core inflation of 5 percent

An IMF team led by Axel Schimmelpfennig visited Kampala May 15‒28, 2018 to continue discussions for a 3-year non-financial Policy Coordination Instrument. The mission met with President Museveni, Minister Kasaija, Governor Tumusiime-Mutebile, Permanent Secretary/Secretary to the Treasury Muhakanizi, members of parliament, private sector representatives, and senior government officials. The mission…

Source: International Monetary Fund (IMF) | Nov 06, 2017

IMF Staff Concludes Visit to Uganda

An IMF team led by Axel Schimmelpfennig visited Uganda from October 23 to November 3, 2017, to initiate discussions for a macroeconomic program under the Policy Coordination Instrument (PCI)

IMF team made progress on developing the pillars of a three-year economic program. Growth is projected to reach 5 percent in 2017/18 from 4 percent in 2016/17. An IMF team led by Axel Schimmelpfennig visited Uganda from October 23 to November 3, 2017, to initiate discussions for a macroeconomic program…

Source: International Monetary Fund (IMF) | May 16, 2017

Uganda: Staff Concluding Statement of the 2017 Article IV Consultation Mission and Discussions for the 8th Review under the Policy Support Instrument

An IMF mission visited Kampala during May 2−15, 2017 to conduct the 2017 Article IV consultation and discussions on the 8th review under the Policy Support Instrument. The IMF’s Executive Board is expected to discuss Uganda in early July.

A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of…

Source: International Monetary Fund (IMF) | Jan 30, 2017

Statement by IMF Managing Director Christine Lagarde at the Conclusion of her Visit to Uganda

“Uganda has appropriately embarked on a strategy of scaled-up infrastructure investment in the energy and transport sectors to relieve key growth bottlenecks and enhance regional linkages”

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Kampala at the conclusion of her visit to Uganda: “I wish to thank President Museveni, Minister of Finance, Economic Planning and Development Matia Kasaija and Governor Emmanuel Tumusiime-Mutebile and other senior officials for…

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