Uganda : Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. African Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2024/077

IMF Staff Country Reports

Language:

English

Physical Description:

1 online resource (97 pages)

Other Title:

Uganda

Place of Publication:

Washington, D.C. : International Monetary Fund, 2024.

Summary:

This paper presents Uganda’s Fifth Review under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria. Economic recovery continues to gain strength following a rapid decline in inflation, favorable agriculture and robust industrial and services activity. Fiscal financing and foreign portfolio flows are facing headwinds amid tight global financial conditions and the passage of the Anti-Homosexuality Act in May 2023. The authorities are implementing fiscal consolidation to contain vulnerabilities, maintaining a moderately tight monetary stance in the face of upside risks to inflation and undertaking reforms to improve governance and reduce corruption. All September 2023 quantitative performance criteria were met, as well as most June 2023 indicative targets (ITs). Preliminary data suggest that the December 2023 IT for net credit to government and inflation were met but the IT for net international reserves was missed. Four out of seven structural benchmarks for the current review were met on or before test dates, and one was completed with a delay.

Notes:

Description based on print version record.

ISBN:

9798400270178