Uganda: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Uganda

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2024 Issue 290

Publication date: September 2024

ISBN: 9798400288821

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Inflation , Public Finance , Industries - Energy , Imports , Foreign exchange , Inflation , Debt sustainability , Government debt management , Oil production , Anti-money laundering and combating the financing of terrorism (AML/CFT)

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Summary

Uganda's economic recovery is strengthening on the back of low inflation, favorable agricultural production, and strong activity in industrial and services sectors. The envisaged start of oil production in late 2025 is expected to further boost growth and improve fiscal and external balances in the medium term. Risks are mostly on the downside, including continued fallout from the Anti-Homosexuality Act (AHA), which complicates already tight external financing conditions, potential delays in oil production, and climate-related shocks.