Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report
IMF Staff Country Reports, January 23, 2023
Source details
- Canonical URL
- Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report
Other formats
Bibliographic details
- Published: January 23, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400230479.002
Overview and program context
- Paper covers Uganda’s Second and Third Reviews under the Extended Credit Facility (ECF) Arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, and Rephasing of Access.
- The Ugandan authorities remain committed to implementing reforms supported by the ECF despite multiple shocks from an unfavorable external environment and new public health challenges.
- A structural benchmark on the asset declaration regime was converted into a prior action for the review and has been met.
Macroeconomic objectives and policy focus
- Maintain macroeconomic stability.
- Improve budget composition.
- Reduce government financing needs to help boost private sector growth and improve people’s livelihoods.
- Continued resolute and timely implementation of structural reforms, including anticorruption and governance measures, is identified as key for the success of the program.
Risks and challenges
- Main risks identified:
- The Ebola outbreak.
- Rising security challenges.
- Further spillovers from the war in Ukraine.
- Uganda’s moderate level of public debt and continued access to concessional financing would provide space to achieve program objectives.
Institutional and procedural notes
- Publication series: IMF Staff Country Reports.
- Format and identifiers:
- Pages: 96
- Volume: 2023
- Issue: 040
- Series: Country Report No. 2023/040
- DOI: https://doi.org/10.5089/9798400230479.002
- Stock No: 1UGAEA2023001
- ISBN: 9798400230479
- ISSN: 1934-7685
- Publication date on page: January 23, 2023
Subjects and keywords
- Subjects: Credit, Imports, Inflation, International organization, International trade, Monetary policy, Money, Prices, Public debt, Revenue administration
- Keywords: core inflation, Credit, data release, energy price shock, Global, high frequency indicator, Imports, Inflation, staff appraisal
International Monetary Fund. Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report. Country Report No. 2023/040. January 23, 2023.
Content in this bundle
- 1ugaea2023001