{
  "title": "Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, January 23, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504",
  "overlayPath": "/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/index.md",
  "summary": "This paper discusses Uganda’s Second and Third Reviews under the Extended Credit Facility (ECF) Arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, and Rephasing of Access.",
  "sections": [
    {
      "heading": "Overview and program context",
      "content": "- Paper covers Uganda’s Second and Third Reviews under the Extended Credit Facility (ECF) Arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, and Rephasing of Access.\n- The Ugandan authorities remain committed to implementing reforms supported by the ECF despite multiple shocks from an unfavorable external environment and new public health challenges.\n- A structural benchmark on the asset declaration regime was converted into a prior action for the review and has been met."
    },
    {
      "heading": "Macroeconomic objectives and policy focus",
      "content": "- Maintain macroeconomic stability.\n- Improve budget composition.\n- Reduce government financing needs to help boost private sector growth and improve people’s livelihoods.\n- Continued resolute and timely implementation of structural reforms, including anticorruption and governance measures, is identified as key for the success of the program."
    },
    {
      "heading": "Risks and challenges",
      "content": "- Main risks identified:\n  - The Ebola outbreak.\n  - Rising security challenges.\n  - Further spillovers from the war in Ukraine.\n- Uganda’s moderate level of public debt and continued access to concessional financing would provide space to achieve program objectives."
    },
    {
      "heading": "Institutional and procedural notes",
      "content": "- Publication series: IMF Staff Country Reports.\n- Format and identifiers:\n  - Pages: 96\n  - Volume: 2023\n  - Issue: 040\n  - Series: Country Report No. 2023/040\n  - DOI: https://doi.org/10.5089/9798400230479.002\n  - Stock No: 1UGAEA2023001\n  - ISBN: 9798400230479\n  - ISSN: 1934-7685\n  - Publication date on page: January 23, 2023"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Credit, Imports, Inflation, International organization, International trade, Monetary policy, Money, Prices, Public debt, Revenue administration\n- Keywords: core inflation, Credit, data release, energy price shock, Global, high frequency indicator, Imports, Inflation, staff appraisal\n\nInternational Monetary Fund. Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report. Country Report No. 2023/040. January 23, 2023.\n\n---\n\n Content in this bundle\n\n- 1ugaea2023001\n  - 1ugaea2023001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1ugaea2023001 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/bundle-manifest.json)",
    "Published: January 23, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400230479.002",
    "Paper covers Uganda’s Second and Third Reviews under the Extended Credit Facility (ECF) Arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, and Rephasing of Access.",
    "The Ugandan authorities remain committed to implementing reforms supported by the ECF despite multiple shocks from an unfavorable external environment and new public health challenges.",
    "A structural benchmark on the asset declaration regime was converted into a prior action for the review and has been met.",
    "Maintain macroeconomic stability.",
    "Improve budget composition.",
    "Reduce government financing needs to help boost private sector growth and improve people’s livelihoods.",
    "Continued resolute and timely implementation of structural reforms, including anticorruption and governance measures, is identified as key for the success of the program.",
    "Main risks identified:",
    "Uganda’s moderate level of public debt and continued access to concessional financing would provide space to achieve program objectives.",
    "Publication series: IMF Staff Country Reports.",
    "Format and identifiers:",
    "Subjects: Credit, Imports, Inflation, International organization, International trade, Monetary policy, Money, Prices, Public debt, Revenue administration",
    "Keywords: core inflation, Credit, data release, energy price shock, Global, high frequency indicator, Imports, Inflation, staff appraisal",
    "**1ugaea2023001**"
  ],
  "related": [
    {
      "title": "1ugaea2023001",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2023/english/1ugaea2023001.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2023/english/1ugaea2023001.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2023/english/1ugaea2023001.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/index.md",
    "json": "/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/index.json",
    "bundleManifest": "/en/publications/cr/issues/2023/01/23/uganda-second-and-third-review-under-the-extended-credit-facility-arrangement-and-requests-528504/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T01:51:34.539Z"
}