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Uganda: Seventh Review Under the Policy Support Instrument-Press Release; and Staff Report

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  • International Monetary Fund

Abstract

The economy has performed reasonably well in a complex environment. Growth slowed marginally in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments. Growth should nudge up in FY16/17 to 5 percent, low compared to past performance and regional peers. Credit to the private sector has stalled, and non-performing loans (NPLs) have increased, also reflecting domestic government arrears. The current account deficit is fully financed. The Shilling has stabilized after a sharp depreciation in 2015, and international reserve coverage remains adequate.

Suggested Citation

  • International Monetary Fund, 2017. "Uganda: Seventh Review Under the Policy Support Instrument-Press Release; and Staff Report," IMF Staff Country Reports 2017/007, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2017/007
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