Uganda: First Review Under The Policy Support Instrument

International Monetary Fund

No 2013/375, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Uganda’s First Review Under the Policy Support Instrument (PSI). Growth has continued to recover from the 2011–2012 low. In an environment of declining inflation—recently halted by a drought-driven food price shock—the fiscal stimulus has been successful in driving economic activity, and a planned program of infrastructure investment is expected to boost growth further. The external accounts remain sustainable. The current account deficit declined mainly owing to a temporary slowdown of foreign direct investment-related imports. With satisfactory program performance, IMF staff supports completing the first PSI review and increasing the ceiling on nonconcessional borrowing.

Keywords: ISCR; CR; public finance management Bill; public finance; management; tax revenue; IMF's framework; SDR million; exchange rate; Inflation; Government finance statistics; External sector statistics; Financial statistics; Africa; Global (search for similar items in EconPapers)
Pages: 75
Date: 2013-12-30
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