{
  "title": "Uganda: First Review Under The Policy Support Instrument",
  "publication": "IMF Staff Country Reports, December 30, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/uganda-first-review-under-the-policy-support-instrument-41171",
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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.",
  "publishDate": "2013-12-30",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and program stance",
      "content": "- Growth has continued to recover from the 2011–2012 low.\n- Inflation was declining but the decline was recently halted by a drought-driven food price shock.\n- The fiscal stimulus has been successful in driving economic activity.\n- A planned program of infrastructure investment is expected to boost growth further.\n- The external accounts remain sustainable.\n- The current account deficit declined mainly owing to a temporary slowdown of foreign direct investment-related imports.\n- With satisfactory program performance, IMF staff supports completing the first PSI review and increasing the ceiling on nonconcessional borrowing."
    },
    {
      "heading": "Key findings and projections",
      "content": "- Growth: continued recovery from the 2011–2012 low.\n- Inflation: declining trend interrupted by a drought-driven food price shock.\n- Fiscal policy: stimulus credited with driving economic activity; further boost anticipated from planned infrastructure investment.\n- External sector: sustainability maintained; current account deficit reduction attributed mainly to a temporary slowdown of FDI-related imports."
    },
    {
      "heading": "Policy recommendations and IMF position",
      "content": "- Complete the first PSI review given satisfactory program performance.\n- Increase the ceiling on nonconcessional borrowing."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Economic and financial statistics\n- External sector statistics\n- Financial statistics\n- Government finance statistics\n- Inflation, Prices\n- Public debt\n- Revenue administration\n\n---\n\n Content in this bundle\n\n- Uganda: First Review Under The Policy Support Instrument; IMF Working Paper 13/375; December 3, 2013\n  - Uganda: First Review Under The Policy Support Instrument; IMF Working Paper 13/375; December 3, 2013 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Uganda: First Review Under The Policy Support Instrument; IMF Working Paper 13/375; December 3, 2013 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/uganda-first-review-under-the-policy-support-instrument-41171"
    }
  ],
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/uganda-first-review-under-the-policy-support-instrument-41171/index.md)",
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    "Published: December 30, 2013",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475522754.002",
    "Growth has continued to recover from the 2011–2012 low.",
    "Inflation was declining but the decline was recently halted by a drought-driven food price shock.",
    "The fiscal stimulus has been successful in driving economic activity.",
    "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.",
    "Growth: continued recovery from the 2011–2012 low.",
    "Inflation: declining trend interrupted by a drought-driven food price shock.",
    "Fiscal policy: stimulus credited with driving economic activity; further boost anticipated from planned infrastructure investment.",
    "External sector: sustainability maintained; current account deficit reduction attributed mainly to a temporary slowdown of FDI-related imports.",
    "Complete the first PSI review given satisfactory program performance.",
    "Increase the ceiling on nonconcessional borrowing.",
    "Economic and financial statistics",
    "External sector statistics",
    "Financial statistics",
    "Government finance statistics",
    "Inflation, Prices",
    "Public debt",
    "Revenue administration",
    "**Uganda: First Review Under The Policy Support Instrument; IMF Working Paper 13/375; December 3, 2013**"
  ],
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