IMF finishes second review of Uganda deal

The board of the International Monetary Fund has wrapped-up its second review of the Policy Support Instrument (PSI) for Uganda, which the agency approved in December 2006. The three-year program aims to promote macroeconomic stability, debt sustainability, financial sector deepening, and improved public sector financial management in the African nation. “Uganda’s economy has continued to perform strongly, owing to appropriate fiscal and monetary policies and the country’s structural reform efforts,” said IMF deputy managing director Takatoshi Kato. “The government’s restraint on less-essential current expenditure and continued efforts in tax revenue collection will be vital to raise public saving, provide room for poverty-reducing spending, and avoid domestic arrears,” Kato added. (Press Release: IMF Executive Board Completes Second Review Under Policy Support Instrument (PSI) for Uganda/International Monetary Fund)

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