IMF Staff Country Reports

Uganda: Third Review Under the Policy Support Instrument, Request for Waiver of Nonobservance of an Assessment Criterion, and Request for Modification of Assessment Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda

June 5, 2012

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Uganda: Third Review Under the Policy Support Instrument, Request for Waiver of Nonobservance of an Assessment Criterion, and Request for Modification of Assessment Criteria: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Uganda, (USA: International Monetary Fund, 2012) accessed September 19, 2024

Summary

This paper presents key findings of the Third Review for Uganda under the policy support instrument. Monetary policy has been tightened significantly to reduce core inflation, supported by a contractionary fiscal stance. All but one of the seven quantitative assessment criteria were met at end-June; most structural benchmarks were met, although several with delay. Tighter monetary and fiscal policies in the near term aim to reduce inflation rapidly, while medium-term policies strive to create fiscal space to support stepped-up public infrastructure investment.

Subject: Arrears, Banking, Budget planning and preparation, Commercial banks, External debt, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Inflation, Prices, Public financial management (PFM)

Keywords: Arrears, Authority, Budget planning and preparation, Commercial banks, CR, Credit growth, Disinflation effort, EAC partner state, Financial Sector Assessment Program, Fiscal policy, Global, Government finances, IMF's framework, Inflation, ISCR, Macroeconomic fundamentals, Monetary policy, Safeguards policy, X. exchange rate arrangement

Publication Details

  • Pages:

    71

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2012/125

  • Stock No:

    1UGAEA2012001

  • ISBN:

    9781475503975

  • ISSN:

    1934-7685