## 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_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2016/12/31/uganda-sixth-review-under-the-policy-support-instrument-and-request-for-a-one-year-extension-43947)

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## Bibliographic details
- Published: June 9, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484382547.002

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### 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*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/uganda-sixth-review-under-the-policy-support-instrument-and-request-for-a-one-year-extension-43947_