Fiscal Policy

EconomyEnergy, Oil & Gas

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
An inland oil rig
CommoditiesEconomyEnergy, Oil & GasTrade

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
The offices of the Ministry of Finance and Economic Development 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.
EconomyPolitics & Policy

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
EconomyPolitics & Policy

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
The offices of the Ministry of Finance in Kampala.
Economy

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 pandemic
The offices of the Ministry of Finance in Kampala.
Politics & 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
The offices of the Ministry of Finance in Kampala.
Economy

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
An aerial photo of the Karuma hydropower project
EconomyPolitics & Policy

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
A highway in Southwestern Uganda
Economy

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
Bank of Uganda's head office in Kampala.
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