Uganda defends monetary policy

uganda

On Monday, the Bank of Uganda issued a detailed statement explaining the limitations of monetary policy in response to recent criticism in the local media.

Adam Mugume, executive director of research at the Bank of Uganda, wrote the document, which was titled: Bank of Uganda's Monetary Policy: What it can do and what it cannot.

"There have been discussions in the media that Bank of Uganda's monetary policy has been a failure because both inflation and the exchange rate have continued to surge

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