The Big Story

IMF Approves UGX3.5 Trillion Extended Credit Facility for Uganda to Support Covid-19 Recovery

by CEO Reporter
Tao Zhang, Deputy Managing Director and Acting Chair says Prudent debt management is important to reduce vulnerabilities, particularly given Uganda’s moderate risk of debt distress. Courtesy photo
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The Executive Board of the International Monetary Fund (IMF) has approved a 36-month arrangement under the Extended Credit Facility (ECF) for Uganda. The SDR722 million (200 percent of quota or about US$1 billion), an equivalent of UGX3.55 trillion is meant to support the post-COVID-19 recovery and the Ugandan authorities’ plan to increase households’ incomes and inclusive growth by foster

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