Uganda: Fourth Review under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion and Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director fo

Fourth Review under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion and Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Uganda

Author: International Monetary Fund. African Dept.

Fourth Review under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion and Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Uganda

Volume/Issue: Volume 2023 Issue 229

Publication date: June 2023

ISBN: 9798400244964

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Topics covered in this book

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Banks and Banking , Exports and Imports , Finance , Money and Monetary Policy , Public Finance , International - Economics , FX reserves-financed government import , core inflation , steadfast adherence , excise duty regime , monetary policy implementation , Credit , Debt sustainability , Global

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Summary

The outlook remains challenging. While the economy is recovering from shocks induced by the war in Ukraine and the Ebola outbreak, the recent global market turmoil, and potential spillovers from the conflict in Sudan pose new policy challenges. The authorities have reacted to the shocks with support to vulnerable households, an appropriate monetary policy stance to contain inflation, and fiscal consolidation to contain vulnerabilities.