Uganda: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Uganda
Uganda: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Uganda

Author: International Monetary

Publisher: International Monetary Fund

Published: 2021-06-30

Total Pages: 124

ISBN-13: 1513584634

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The Ugandan authorities reacted swiftly to the COVID-19 crisis, locking down the economy, saving lives and avoiding a public health crisis. However, the resulting economic and social costs have been high. Per capita GDP growth remains below pre-pandemic levels, poverty gains have been reversed, fiscal balances have deteriorated, and pressures on external buffers remain high.

Uganda: 2021 Article IV Consultation and First Review Under the Extended Credit Facility Arrangement and Requests for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda
Uganda: 2021 Article IV Consultation and First Review Under the Extended Credit Facility Arrangement and Requests for Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Uganda

Author: International Monetary

Publisher: International Monetary Fund

Published: 2022-03-15

Total Pages: 154

ISBN-13:

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The authorities have reacted to the COVID-19 crisis in an appropriate manner, including through increased spending on health and a rollout of the vaccination program. Nevertheless, the deterioration of socio-economic indicators during the pandemic could create scars that would significantly lower growth if left unaddressed.

Uganda
Uganda

Author: International Monetary

Publisher: International Monetary Fund

Published: 2023-01-23

Total Pages: 96

ISBN-13:

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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.

Kenya
Kenya

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2011-02-10

Total Pages: 88

ISBN-13: 145521776X

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Kenya’s economy is bouncing back following multiple shocks between 2008 and 2009. The program targets a gradual reduction in the central government primary balance through tax reform and strict control of current spending to bring the debt-to-GDP ratio below 45 percent at the end of the program period. Tax policy reform will focus on the VAT, streamlining tax incentives, and eliminating loopholes. Kenya has made significant strides in domestic revenue mobilization, but redesigning the tax structure is a key priority.

Central African Republic
Central African Republic

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2016-08-10

Total Pages: 118

ISBN-13: 1475523718

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This 2016 Article IV Consultation highlights that economic growth in the Central African Republic has remained anemic since 2013 owing to structural rigidities, poor infrastructure, and limited energy supply. Inflation reached 11.6 percent in 2014 and receded to 4.5 percent in 2015 thanks to improved supply conditions and a fall in the prices of basic imports. Corrective measures implemented in 2015 allowed revenue to reach 7.1 percent. IMF Executive Directors have commended the authorities for the progress achieved under their economic program supported by the Rapid Credit Facility, which has helped stabilize the economy, rebuild core administrative capacity, and improve the management of public resources.

Malawi
Malawi

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2018-11-30

Total Pages: 123

ISBN-13: 1484387309

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Malawi’s economic growth remains moderate, reflecting a weak agricultural harvest and continued electricity shortages. Fiscal deficits continue to be financed domestically, as donor funding remains constrained by governance concerns since the 2013 cashgate scandal, resulting in an increasing public debt burden. Presidential elections are scheduled for mid-2019. Program performance. Most quantitative performance criteria (QPC) were met at end-June 2018, with significant overperformance on international reserves and the reduction in Reserve Bank of Malawi (RBM) holdings of government securities. The QPC on the primary fiscal balance was missed by 0.9 percent of GDP due to expenditure overruns. The continuous QPC on new non-concessional external debt was missed due to a technical oversight in the Technical Memorandum of Understanding. Based on corrective measures, the authorities request waivers of non-observance. Two structural benchmarks were observed and most of the rest have been completed with delay.

Central African Republic
Central African Republic

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-08-13

Total Pages: 73

ISBN-13: 1475506570

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Political and economic uncertainties in the Central African Republic (C.A.R.) have abated, but the sociopolitical environment remains fragile. Institutional weaknesses, limited and volatile aid flows, and persistently low domestic resource mobilization have slowed the efforts and considerable transition out of fragility. The resumption of donor budget support will close the financing gap and increase poverty and infrastructure spending. Implementation of structural reforms needs to be accelerated to support the government’s medium-term objectives. Strengthening debt management capacity to effectively monitor debt development is essential.

Mali
Mali

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2014-01-03

Total Pages: 107

ISBN-13: 1484338243

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This paper discusses Mali’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). The economy is recovering and inflationary pressures have abated. After a 0.4 percent GDP decline in 2012, Mali’s economy is on the mend. The improvement in the security situation and the resumption of donor assistance has helped revive business confidence. Activity is picking up in the service sectors hardest hit by the crisis (commerce, hotels, and restaurants). The banking sector is showing signs of strain. Resumption of donor support brightens the economic outlook; however, the generally positive outlook is subject to several risks.

Malawi
Malawi

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-08-03

Total Pages: 140

ISBN-13: 1475506112

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The Malawian economy is slowly recovering, thanks to corrective measures such as the floating exchange rate regime and liberated current account transactions. Stringent fiscal discipline, restrained monetary policies, and boosting of international reserves have been suggested as measures for controlling inflation and stabilizing the macroeconomy. Operation power and freedom for results-based management (RBM) and implementation of Malawi Growth and Development Strategy II (MGDS-II) are also suggested by the Executive Board. Measures to ensure revenue gain concurrent with spending have also been recommended.

United Republic of Tanzania
United Republic of Tanzania

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2022-08-05

Total Pages: 137

ISBN-13:

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Tanzania’s economy is gradually recovering from the negative effects of the COVID-19 pandemic. While IMF emergency financing (0.8 percent of GDP) in 2021 helped address fiscal pressures, preserve stability, and finance the authorities’ COVID-19 economic and health response, Tanzania continues to face development and reform challenges to unleash its economic potential. The authorities are seeking renewed Fund assistance to support the country facing protracted balance of payments needs associated with the two external shocks—the COVID-19 pandemic and the war in Ukraine—and to support the authorities’ reform agenda summarized in their Five-Year Development Plan.