The International Monetary Fund (IMF) says it will send a staff team to Uganda in September to resume negotiations on a new support programme for the East African country.
The IMF Resident Representative in Uganda, Sébastien Walker, disclosed this as discussions continue on a fresh programme following the expiration of Uganda’s previous IMF-supported arrangement in 2024.
Uganda subsequently requested a new programme, but the two sides have yet to reach an agreement.
Walker said negotiations had been constructive, although additional progress was required before a final agreement could be concluded.
According to him, the planned September mission is expected to advance the discussions and help move the process towards a new support arrangement.
Uganda’s economy has continued to record strong growth and is expected to receive further support from the anticipated commencement of crude oil production.
However, the IMF noted that the country continues to face a high debt-service burden and a weakening fiscal position, factors that remain key considerations in the ongoing negotiations.
Reuters
