World Economy

IMF Praises Uganda

IMF Praises UgandaIMF Praises Uganda

The International Monetary Fund (IMF) has praised Bank of Uganda’s (BOU) on the monetary policy stance, saying it brought down inflation to a four-year low. This set the conditions for some additional monetary easing, provided the inflation expectations are anchored and the fiscal risks are contained, according to the IMF, New Vision reported. It said in a press release that Uganda’s performance under the Policy Support Instrument (PSI) remains satisfactory. The IMF’s executive board completed the third review of Uganda’s economic performance under the program supported by the PSI. The PSI for Uganda was approved by the executive board on June 28, 2013.