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Economy
10 things the World Bank says about Uganda’s economy
The World Bank on Tuesday released its eighth Uganda Economic Update outlining its view of the state of the economy, more than six months after it cut off funding over slow execution of projects. Here are 10 key messages from the report.
February 7, 2017
Companies
DFCU takes over Crane Bank
DFCU Bank has taken over Crane Bank, Bank of Uganda revealed today - three months after the troubled lender was placed under statutory management by the central bank.
January 27, 2017
Economy
BoU sees tough times ahead for banks, but confident on stability
The central bank is counting on tougher capital demands to mitigate potential risks to the financial system, following a stormy year for the banking sector during which the regulator took over management of one of the largest lenders.
January 3, 2017
Politics & Policy
Government chief executives should be paid in a uniform manner — COSASE
There are big discrepancies in the salaries of the chief executives of parastatals, authorities and commissions arising from the legal frameworks which set up the entities, according to a report passed by Parliament last week
December 28, 2016
Economy
Bank of Uganda cuts benchmark interest rate to 12%
The Bank of Uganda on Wednesday lowered the central bank rate by 100 basis points from 13%, set in October, to 12%. The bank's monetary policy committee said the rise was necessary to "keep the domestic economic growth momentum."
December 14, 2016
Economy
Bank of Uganda governor expects “small rise” in GDP growth
The prospects for macroeconomic stability in the near to medium term are currently very good, according to the central bank governor. Economic growth in 2017 will be "close to the economy’s medium term potential growth of 5%," he said.
December 5, 2016
Economy
Food prices drive rise in headline inflation in November
Inflation for the year ended November 2016 rose to 4.6% from 4.1% the previous month, the first increase since July, while core inflation - a key measure targeted by the Bank of Uganda - rose for the second consecutive month to 5.2%.
November 30, 2016
Economy
Banks to face tougher capital demands as regulator calls for stricter lending standards
Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
November 28, 2016
Economy
IMF urges curb on government spending, praises BoU policy
Bank of Uganda's tight monetary policy has been successful in bringing down inflation to within target, the International Monetary Fund said on Tuesday. But it also raised concerns about high government spending and lower tax collections.
October 26, 2016
Economy
Financial sector is stable, Bank of Uganda says
The Central Bank released a statement on Monday disputing social media rumours on the state of the financial sector. Signed by the bank's director of communications, the statement says "the financial sector as a whole is stable, sound and resilient."
October 25, 2016
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