Uganda: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Uganda

May 7, 2019

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Uganda: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Uganda, (USA: International Monetary Fund, 2019) accessed November 23, 2024

Summary

This 2019 Article IV Consultation discusses that Uganda has made impressive development gains and achieved the Millennium Development Goal on halving poverty ahead of schedule. However, going forward, Uganda must create over 600,000 jobs per year to keep up with its growing population, while making further progress on poverty reduction and the Sustainable Development Goals. The authorities’ development strategy centers on infrastructure and a nascent oil sector. If investments proceed as planned, growth could range between 6 and 7 percent over the next five years. It is important to adopt an effective fiscal anchor and strengthen the budget process to become more binding for fiscal outcomes. It is also recommended to support human capital development and make growth more inclusive by improving the efficiency of public services and providing adequate budget allocations for social sectors. The consultation also suggests strengthening implementation and institutions of the governance and anti-corruption framework. Ensure that the Anti-Money Laundering/Countering the Financing of Terrorism regime is brought in line with international standards.

Subject: Contingent liabilities, Expenditure, External debt, Government debt management, Public debt, Public financial management (PFM), Public investment spending

Keywords: Accommodative monetary policy stance, Africa, Contingent liabilities, CR, Debt metrics, DFID balance of payments module 2, East Africa, Exchange rate, Global, Government, Government debt management, Government intervention, Infrastructure project, ISCR, Management practice, Oil sector investment, Public investment spending, Sta mission, Sub-Saharan Africa, Uganda

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/125
Stock No:

1UGAEA2019001
ISBN:

9781498313667
ISSN:

1934-7685

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