{"id":27861,"date":"2022-03-13T18:11:05","date_gmt":"2022-03-13T18:11:05","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=27861"},"modified":"2022-03-13T17:12:18","modified_gmt":"2022-03-13T17:12:18","slug":"covid-funds-uganda-gets-the-all-clear-from-imf","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf","title":{"rendered":"Covid funds: Uganda gets the all-clear from IMF"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Uganda is set to receive financial aid of $125 million (Shs14.2 billion) to help the government fund programmes critical in driving its economic recovery and development in the short and medium term.<\/p>\n

The executive board of the International Monetary Fund (IMF) revealed that this will bring \u201cthe aggregate disbursement to-date to $385 -million (about Shs44b)\u201d and comes after the Ugandan government implemented their reform agenda steadfastly.<\/p>\n

The IMF annually holds bilateral discussions with members. A staff team visits respective countries to get economic and financial information before engaging in discussions with relevant officials.<\/p>\n

ALSO READ:<\/b><\/p>\n

DPP drops charges against OPM officials in Covid food scandal<\/p>\n

On return to headquarters, the team prepares a report that forms the basis for discussion by the executive board.<\/p>\n

In the brief statement, the IMF Executive Board explained that Ugandan authorities skillfully managed the second wave of the pandemic last July.<\/p>\n

ALSO READ:<\/b><\/p>\n

We shall support Uganda\u2019s recovery from Covid-19 \u2013 IMF<\/p>\n

The IMF was nonetheless cognisant that the social impact of the pandemic is profound, leaving deep scars on human capital potentially persisting over the medium term.<\/p>\n

Mr Bo Li, the deputy managing director at the IMF, stated: \u201cThe Ugandan authorities remain firmly committed to their economic programme amidst a challenging environment. Programme performance has been satisfactory. All quantitative targets were met, except one, and all but three structural benchmarks for 2021 were completed.\u201d<\/p>\n

ALSO READ:<\/b><\/p>\n

Covid food scam: Four OPM officials charged before High Court<\/p>\n

Mr Li also commended Uganda\u2019s banking system for being well-capitalised and minimising financial stability risks.<\/p>\n

He added that greater exchange rate flexibility is needed to preserve external buffers, with foreign exchange interventions limited to smoothing excessive exchange rate fluctuations.<\/p>\n

\u201cProgress on governance reforms\u2014including through regular audits of Covid-19 expenditures, publication of beneficial owners\u2019 information and enhanced scrutiny of politically exposed persons\u2014should be sustained,\u201d he said, adding, \u201cAccelerating financial inclusion, fostering climate adaptation policies and improving trade integration are also essential for building a faster-growing greener economy.\u201d<\/p>\n

Impressive<\/p>\n

In the brief statement, the IMF Executive Board explained that Ugandan authorities skilfully managed the second wave of the pandemic last July.<\/p>\n

ALSO READ:<\/b><\/p>\n

Civil society want BoU to show how IMF Covid-19 cash will be utilised<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Uganda is set to receive financial aid of $125 million (Shs14.2 billion) to help the government fund programmes critical in driving its economic recovery and development in the short and medium term. The executive board of the International Monetary Fund (IMF) revealed that this will bring \u201cthe aggregate disbursement to-date to $385 […]<\/p>\n","protected":false},"author":84,"featured_media":27860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-27861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nCovid funds: Uganda gets the all-clear from IMF - Uganda<\/title>\n<meta name=\"description\" content=\"Uganda is set to receive financial aid of $125 million (Shs14.2 billion) to help the government fund programmes critical ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covid funds: Uganda gets the all-clear from IMF\" \/>\n<meta property=\"og:description\" content=\"Uganda is set to receive financial aid of $125 million (Shs14.2 billion) to help the government fund programmes critical ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-13T18:11:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/03\/img-622e25d28c067.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Covid funds: Uganda gets the all-clear from IMF\",\"datePublished\":\"2022-03-13T18:11:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\"},\"wordCount\":387,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/03\/img-622e25d28c067.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/covid-funds-uganda-gets-the-all-clear-from-imf\",\"name\":\"Covid funds: Uganda gets the all-clear from IMF - 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