Uganda:Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; and Staff Report

Author: International Monetary Fund. African Dept.

Uganda: Second and Third Review under the Extended Credit Facility Arrangement; and Requests for a Waiver of Nonobservance of Performance Criterion and Rephasing of Access; Press Release; Staff Report

Volume/Issue: Volume 2023 Issue 040

Publication date: January 2023

ISBN: 9798400230479

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Money and Monetary Policy , Public Finance , International - Economics , data release , energy price shock , staff appraisal , high frequency indicator , core inflation , Inflation , Credit , Imports , Global

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Summary

The outlook has become more challenging in recent months. While COVID-19 infections declined significantly, an outbreak of Ebola has raised new public health concerns. Moreover, the economic outlook has been negatively affected by the spillovers from the war in Ukraine and the tightening of global financial conditions. The authorities have reacted to the shocks in an appropriate manner, including through support to vulnerable households, and monetary policy tightening to contain inflation.