• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, June 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

IMF pledges $240m to spur Uganda’s public sector reforms

IMF

The Matters Press by The Matters Press
December 23, 2022
Reading Time: 1 min read
0
Economists Challenge IMF on call for further VAT increase in Nigeria

The International Monetary Fund (IMF) has offered a $240 million three-year loan to Uganda to support a radical public sector reform.

RELATED POSTS

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

N1.5trn recapitalisation of Agric bank will herald food security – TMV

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

The agenda is anchored on fighting corruption, cutting financial waste and promoting financial inclusion while sending positive signals to international creditors and credit rating agencies about the country’s debt burden.

The loan offer comes in the wake of a staff-level agreement reached between the Fund and the Uganda government over a new public sector reform plan that covers 11 broad areas.

Disbursement of the loan is subject to IMF Executive Board’s approval that is expected in two weeks’ time, according to IMF sources. The new funding package represents a slight shift from previous IMF loans acquired by Uganda since the onset of the Covid-19 pandemic in early 2020.

Whereas the latter were procured for direct budget support required for the settlement of government’s operating expenses, Covid-19 healthcare-related costs and provision of financial stimulus packages for the most affected sectors, the former is targeted towards public sector administrative reforms.

Uganda received a $471 million loan from the IMF in late 2020 and another $1 billion loan in 2021 for budget support purposes.

Increased IMF support to Uganda is apparently driven by prolonged economic shocks triggered by the Covid-19 pandemic and associated lockdown measures.

“Uganda’s economy has been growing below its full potential over the past three years.

“We are looking at previous growth rates of 3.8 percent, 4.8 percent and 5.3 percent and this limits our ability to collect tax revenues. The Russia-Ukraine war has certainly complicated matters and this means getting additional IMF support is inevitable at this time,” said Mr Michael Atingi-Ego, the deputy governor of Bank of Uganda.

More on TheEastAfrican

Tags: IMF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

$2.5 billion JBS investment, a big economic victory for Nigeria –  TDF
Economy/Technology

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

June 27, 2025
ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
Next Post
Zungeru Hydropower project to engage skilled professionals

Kenya’s Power to get $300m bailout

East Africans ponder celebrating Christmas on shoestring budgets

Recommended Stories

SMEDAN to disburse N5.2m start-up grants to cooperatives

SMEDAN moves to change MSMEs development narrative

July 20, 2022
800 firms compete to manage gas flare sites

Officials blame drop in Nigeria’s gas export to vandalism

September 21, 2022
Scheme to repatriate $200bn in forex requires right mechanisms

Falling forex putting East Africa economies at risk of default

July 9, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group
  • N1.5trn recapitalisation of Agric bank will herald food security – TMV
  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us