{
  "title": "Uganda: Seventh Review Under the Policy Support Instrument-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, January 10, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/01/10/uganda-seventh-review-under-the-policy-support-instrument-press-release-and-staff-report-44518",
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  "summary": "The economy has performed reasonably well in a complex environment. Growth slowed marginally in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments. Growth should nudge up in FY16/17 to 5 percent, low compared to past performance and regional peers.",
  "publishDate": "2017-01-10",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Main findings and overview",
      "content": "- \"The economy has performed reasonably well in a complex environment.\"\n- \"Growth slowed marginally in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments.\"\n- \"Growth should nudge up in FY16/17 to 5 percent, low compared to past performance and regional peers.\"\n- \"Credit to the private sector has stalled, and non-performing loans (NPLs) have increased, also reflecting domestic government arrears.\"\n- \"The current account deficit is fully financed.\"\n- \"The Shilling has stabilized after a sharp depreciation in 2015, and international reserve coverage remains adequate.\""
    },
    {
      "heading": "Financial sector and fiscal dynamics",
      "content": "- Credit to the private sector: stalled (no numerical value provided).\n- Non-performing loans (NPLs): increased (no numerical value provided); increase attributed in part to domestic government arrears.\n- Government arrears: cited as a factor in banking sector asset quality deterioration."
    },
    {
      "heading": "External sector and exchange rate",
      "content": "- Current account: deficit is fully financed.\n- Exchange rate developments: \"The Shilling has stabilized after a sharp depreciation in 2015.\"\n- International reserves: coverage described as \"adequate.\""
    },
    {
      "heading": "Projections and comparative assessment",
      "content": "- FY16/17 growth projection: \"5 percent.\"\n- Comparative note: projected growth is \"low compared to past performance and regional peers.\""
    },
    {
      "heading": "Subject coverage and keywords (as listed)",
      "content": "- Subjects: Debt sustainability; Economic and financial statistics; Expenditure; External debt; Government finance statistics; Public and publicly-guaranteed external debt; Public debt; Public investment and public-private partnerships (PPP).\n- Keywords: core inflation; CR; deficit; deficit target; East AFRITAC mission; fell short; Global; government; Government finance statistics; ISCR; Public and publicly-guaranteed external debt; Public investment and public-private partnerships (PPP); scaling-up of infrastructure investment; supply and use tables.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/01/10/uganda-seventh-review-under-the-policy-support-instrument-press-release-and-staff-report-44518"
    }
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    "Published: January 10, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475565225.002",
    "\"The economy has performed reasonably well in a complex environment.\"",
    "\"Growth slowed marginally in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments.\"",
    "\"Growth should nudge up in FY16/17 to 5 percent, low compared to past performance and regional peers.\"",
    "\"Credit to the private sector has stalled, and non-performing loans (NPLs) have increased, also reflecting domestic government arrears.\"",
    "\"The current account deficit is fully financed.\"",
    "\"The Shilling has stabilized after a sharp depreciation in 2015, and international reserve coverage remains adequate.\"",
    "Credit to the private sector: stalled (no numerical value provided).",
    "Non-performing loans (NPLs): increased (no numerical value provided); increase attributed in part to domestic government arrears.",
    "Government arrears: cited as a factor in banking sector asset quality deterioration.",
    "Current account: deficit is fully financed.",
    "Exchange rate developments: \"The Shilling has stabilized after a sharp depreciation in 2015.\"",
    "International reserves: coverage described as \"adequate.\"",
    "FY16/17 growth projection: \"5 percent.\"",
    "Comparative note: projected growth is \"low compared to past performance and regional peers.\"",
    "Subjects: Debt sustainability; Economic and financial statistics; Expenditure; External debt; Government finance statistics; Public and publicly-guaranteed external debt; Public debt; Public investment and public-private partnerships (PPP).",
    "Keywords: core inflation; CR; deficit; deficit target; East AFRITAC mission; fell short; Global; government; Government finance statistics; ISCR; Public and publicly-guaranteed external debt; Public investment and public-private partnerships (PPP); scaling-up of infrastructure investment; supply and use tables.",
    "**Country Report**"
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