Fiscal Policy
BoU turns to dollar sales as political warnings meet market pressure
Bank of Uganda sold foreign currency after rate rises failed to halt the shilling’s slide, despite warnings from Museveni and Ggoobi against using reserves
Africa’s steady growth conceals widening economic divide, IMF says
Africa’s steady growth masks divergent fortunes, with commodity gains supporting exporters while debt costs and aid cuts constrain spending
Provision releases and currency gains drive Bank of Uganda’s doubled surplus
Bank of Uganda's reported surplus doubled to Shs1.3tn ($365.5mn), but underlying earnings fell once provisions and currency gains are removed
Uganda set to outpace region as IMF flags oil-driven growth surge
IMF forecasts place Uganda among the world’s fastest-growing economies as oil production nears, even as risks rise across sub-Saharan Africa
Uganda’s oil moment approaches — but the risks are multiplying
Uganda's first oil is due in H2 2026, but timing risks, fiscal pressures, and a Middle East conflict cloud the outlook
Fitch affirms Uganda B+ rating
Ratings supported by favourable medium-term growth prospects and macroeconomic stability, but constrained by weak governance and budget and current account deficits
A mindset change is best route to broader and resilient growth
The Uganda government must encourage citizens to participate in the national development agenda. It must start by viewing citizens as agents of economic growth and development, not a burden to the government
Bank of Uganda holds rates, warns of rising public debt
Central bank maintains key interest rate at record low, noting gradual but subdued economic growth and favourable inflation outlook
Uganda receives IMF loan to stave off coronavirus impact
The International Monetary Fund said on Wednesday that it had approved a $419.5m (Shs1.6 trillion) loan to Uganda to help combat the economic fallout of the Covid-19 coronavirus pandemicMore Fiscal Policy
Government to spend extra Shs304.4bn to counter coronavirus
Uganda will spend Shs304.4bn ($80.6m) over the next three months on its coronavirus pandemic response, according to a supplementary budget request presented to parliament this week
IMF sees favourable prospects for Uganda, calls for more social spending
The IMF is optimistic about Uganda's prospects over the next five years but says more social spending is needed to fight unemployment among youths and women
Moody’s maintains Uganda’s credit rating
Moody’s Investors Service maintained its appraisal of Uganda's debt, citing its favourable medium-term economic prospects supported by an increase in infrastructure investment
Why credit ratings matter and why they can’t be ignored
Investors use credit ratings as a guide to their investment decisions. Credit ratings provide an independent and objective assessment of the credit worthiness of countries and corporations
Moody’s downgrades Uganda’s credit rating, outlook stable
Ratings agency Moody's has cut Uganda's long-term issuer bond rating by one notch to B2 from B1, but changed the outlook from 'negative' to 'stable.' Moody's said the key driver of its downgrade is Uganda's "sustained erosion of fiscal strength."
Uganda economy to grow less than expected due to drought — minister
Uganda's economy is not in recession and has remained resilient despite several unfavourable conditions, finance minister Matia Kasaija told Parliament today as he delivered a statement on the state of the 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.
