Uganda: Sixth Review Under the Policy Support Instrument and Request for a One-Year Extension-Press Release; Staff Report; and Statement by the Executive Director for Uganda
IMF Staff Country Reports, June 9, 2016
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- Uganda: Sixth Review Under the Policy Support Instrument and Request for a One-Year Extension-Press Release; Staff Report; and Statement by the Executive Director for Uganda
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Bibliographic details
- Published: June 9, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484382547.002
Review scope and central findings
- The paper reviews Uganda’s economic performance under the program supported by the Policy Support Instrument.
- GDP growth has been supported by the implementation of large public investments.
- Credit to the private sector has shown sluggish growth.
- Inflation has started to decelerate toward the medium-term target, allowing for monetary policy easing.
Short-term risks and challenges
- Adverse weather developments.
- Regional and global-political and economic uncertainties.
- Post-election fiscal pressures.
- These factors “may challenge the achievement of short-term growth and inflation objectives.”
Medium-term outlook and conditions
- The medium-term outlook is described as positive, conditional on accelerated progress on structural reforms.
- Key supports for the medium-term outlook identified:
- Future oil production.
- Increased regional integration and inter-regional trade.
- Implementation of significant infrastructure projects.
Policy implications highlighted
- Monetary policy: Deceleration in inflation provides space for monetary policy easing.
- Structural reforms: Accelerated progress on structural reforms is necessary to secure the positive medium-term outlook.
- Fiscal stance: Attention to post-election fiscal pressures is necessary to avoid undermining short-term objectives.
International Monetary Fund. African Dept. "Uganda: Sixth Review Under the Policy Support Instrument and Request for a One-Year Extension-Press Release; Staff Report; and Statement by the Executive Director for Uganda", IMF Staff Country Reports 2016, 145 (2016), accessed 9/23/2026, https://doi.org/10.5089/9781484382547.002