Source: International Monetary Fund (IMF) |

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) |

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) |

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) |

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) |

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) |

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) |

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) |

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…

Source: International Monetary Fund (IMF) |

IMF Managing Director to Visit the Central African Republic, Uganda and Mauritius

During her visit, Ms. Lagarde will meet with senior government officials, the private sector, CSOs, members of parliament, women leaders, and students

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), will visit the Central African Republic (CAR), Uganda, and Mauritius during January 24 - February 1, 2017. During her visit, Ms. Lagarde will meet with senior government officials, the private sector, CSOs, members of parliament, women leaders, and students.…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes the Seventh Review Under the Policy Support Instrument for Uganda

Uganda’s economy has performed reasonably well in a complex environment

On January 5, the Executive Board of the International Monetary Fund (IMF) completed the seventh review of Uganda’s economic program under the Policy Support Instrument (PSI).1 The Board’s decision was taken on a lapse of time basis.2 In completing the review, the Board granted a waiver of the nonobservance of…