Economy

EconomyOpinion

The liquidity crisis in developing countries is not over

External debt ratios of low-income and lower-middle-income countries are lower than before, but liquidity pressures have increased due to various shifts in the global economy
Globe weighed down by a chain and labelled 'debt': global debt crisis, economic burden, financial instability, liquidity crisis
Economy

Bank of Uganda raises rates to highest levels in nearly 7 years, nods to strong inflation pressures

The Bank of Uganda raised interest rates for the second time in as many months on Monday, citing the risk of increased inflationary pressures due to a weak shilling
The Bank of Uganda's headquarters in Kampala
Economy

Business activity slows in March

Activity in Uganda's economy contracted for the first time in 20 months in March, according to an official survey, as a drop in money supply suppressed consumer demand
Overhead image of the downtown part of Kampala, with the logo of Diamond Trust Bank Uganda prominent and in the photographer's focus
CommoditiesEconomyTrade

Coffee exports fall at steepest pace since December 2022

Coffee exports fell by the most in fourteen months in February, but higher global prices led to higher earnings
Jute bags containing coffee beans in a café storage area
EconomyTrade

Goods trade gap falls to near three-year low

Uganda's merchandise trade deficit with the rest of the world fell to its lowest level in 35 months in January, helped by a sharp drop in imports of unrefined gold
People crossing the border from the Democratic Republic of the Congo into Bunagana, in the south-west of Uganda.
Economy

Bank of Uganda’s Monetary Policy Statement for March 2024 — Full text

On 6 March 2024, a special meeting of the Bank of Uganda's Monetary Policy Committee increased the Central Bank Rate to 10 per cent
Michael Atingi-Ego, Bank of Uganda deputy governor, at a meeting at the bank's Kampala headquarters, February 2024.
Economy

Interest rates raised by 0.5% to stem shilling’s slide

The Central bank raised its key interest rate at an emergency meeting to stem a “sharp depreciation” of the shilling caused by offshore investor outflows and in the wake of resurgent inflation
The Bank of Uganda's headquarters in Kampala
Economy

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
The World Bank Group headquaters in Washington D.C.
Economy

Consumer prices grow at fastest pace in six months

A surge in services prices, driven by increases in education and restaurant and accommodation services, pushed inflation to its fastest pace in six months in February
Statistics House in Kampala, headquarters of the Uganda Bureau of Statistics
EconomyPolitics & Policy

Africa’s debt crisis demands a bold new approach

Africa cannot rely on the global community to provide adequate funding or debt relief to address its development needs and crises, such as pandemics or extreme weather events
South African President Cyril Ramaphosa and other G20 leaders at the opening ceremony of the 2023 G20 Leaders' Summit in New Delhi, India, on 9 September 2023. The G20 agreed a Common Framework that was supposed to help resolve the sovereign debt crises in low income countries. Four African countries applied to have their debts restructured through the framework. Despite years of negotiations, it has failed to fully resolve the debt crisis in three of them.
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