An International Monetary Fund (IMF) staff team plans to visit Uganda next month for more negotiations on a new support programme, the IMF’s resident representative in Uganda told Reuters.
The East African country’s previous support programme expired in 2024. It later requested a new programme from the Fund, but a deal is yet to be reached.
“While discussions were constructive, further progress is needed to reach an agreement. Staff is planning a programme negotiation mission in September,” the resident representative, Sébastien Walker, said by email.
Uganda’s economy has been growing strongly and is expected to continue doing so thanks to the anticipated start of crude oil production.
But the country is grappling with a high debt-service burden and weakening fiscal position, the IMF noted in its latest Article IV Consultation.
–Reuters–
