Uganda: Seventh Review Under the Policy Support Instrument, Request for a New Policy Support Instrument and Cancellation of Current Policy Support Instrument: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
IMF Staff Country Reports, May 17, 2010
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- Uganda: Seventh Review Under the Policy Support Instrument, Request for a New Policy Support Instrument and Cancellation of Current Policy Support Instrument: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda
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Bibliographic details
- Published: May 17, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455204366.002
Key findings and medium-term outlook
- The medium-term outlook for Uganda remains favorable but risks are on the rise.
- Growth is expected to rebound to its potential in the coming two years on the heels of a supportive fiscal stance and higher global and regional growth.
- The economy remains vulnerable to exogenous shocks as well as to election-related uncertainties.
- IMF staff supports the authorities’ request for a new three-year PSI to anchor their near- and medium-term policies.
Analysis highlights
- Fiscal policy stance: characterized as supportive and expected to underpin the anticipated growth rebound.
- External environment: higher global and regional growth cited as a contributing factor to domestic recovery prospects.
- Risk assessment:
- Exogenous shocks identified as a continuing downside risk.
- Election-related uncertainties highlighted as a specific domestic risk factor.
Policy recommendations and program support
- Support for a new program:
- IMF staff supports the authorities’ request for a new three-year Policy Support Instrument (PSI) intended to anchor near- and medium-term policies.
- Implicit policy priorities (as reflected in the review):
- Maintain a supportive fiscal stance consistent with sustaining the growth rebound.
- Manage vulnerabilities to exogenous shocks and mitigate election-related uncertainties through appropriate policy buffers and contingency measures.
- Continue engagement on public financial management, external debt, and fiscal frameworks consistent with PSI objectives.
International Monetary Fund. "Uganda: Seventh Review Under the Policy Support Instrument, Request for a New Policy Support Instrument and Cancellation of Current Policy Support Instrument: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda." IMF Staff Country Reports 2010, 132 (2010).