IMF urges full recapitalisation of Ugandan central bank


It is "essential" that the Bank of Uganda cuts its operational costs and secures additional recapitalisation from the government, according to a staff appraisal from the International Monetary Fund (IMF) released earlier this week.

The government initially recapitalised the Bank of Uganda by issuing bonds worth 410 billion Ugandan shillings ($160 million) in June 2013, but the central bank is likely to need additional capital injections throughout the decade.

The International Monetary Fund (IMF

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