Uganda: Fifth Review Under the Policy Support Instrument and Request for Waiver of an Assessment Criterion and Modification of Assessment Criteria-Press Release; and Staff Report
IMF Staff Country Reports, November 20, 2015
Source details
- Canonical URL
- Uganda: Fifth Review Under the Policy Support Instrument and Request for Waiver of an Assessment Criterion and Modification of Assessment Criteria-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: November 20, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513508702.002
Overview
- This paper discusses Uganda’s Fifth Review Under the Policy Support Instrument (PSI) and Request for Waiver of an Assessment Criterion and Modification of Assessment Criteria.
- The economy of Uganda has fared well in a difficult environment.
- The IMF staff recommends completing the fifth review under the PSI.
Program performance
- Program performance under the PSI was generally positive.
- All end-June and continuous quantitative assessment criteria were observed, with one exception.
- Most indicative targets were also observed.
- The authorities are rightly adjusting the policy mix.
Inflation and consultation clause
- Inflation remained within the bands of the consultation clause.
Revenue outcomes
- An unprecedented increase in tax revenue was a key achievement.
Structural reforms and policy needs
- Further progress on structural reforms is needed.
IMF staff recommendation
- The IMF staff recommends completing the fifth review under the PSI.