Uganda: First Review Under The Policy Support Instrument

Publication Date: December 30, 2013
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Summary: This paper discusses Uganda’s First Review Under the Policy Support Instrument (PSI). Growth has continued to recover from the 2011–2012 low. In an environment of declining inflation—recently halted by a drought-driven food price shock—the fiscal stimulus has been successful in driving economic activity, and a planned program of infrastructure investment is expected to boost growth further. The external accounts remain sustainable. The current account deficit declined mainly owing to a temporary slowdown of foreign direct investment-related imports. With satisfactory program performance, IMF staff supports completing the first PSI review and increasing the ceiling on nonconcessional borrowing.
Series: Country Report No. 13/375
Subject(s): Policy Support Instrument | Fiscal policy | Tax revenues | Government expenditures | Fiscal reforms | Monetary policy | Economic indicators | Debt sustainability analysis | Staff Reports | Press releases | Uganda

Publication Date: December 30, 2013
ISBN/ISSN: 9781475522754/1934-7685 Format: Paper
Stock No: 1UGAEA2013003 Pages: 75
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