Uganda
Governors launch East African Payments System
East African Community presents new market infrastructure and plans to boost currency convertibility; Kenyan governor sets out monetary policy priorities for the region
IMF moves to unshackle programme countries' monetary policy
The Fund's move towards more flexible conditionality in support programmes is part of a bigger push, but some say it does not go far enough
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
East Africa takes more steps on path to integration
East African Community agrees to expand its relationship with a regional counterpart; implements new project to harmonise payment and settlement systems
East African Community secures €4.5 million EU loan
The deal is aimed at bolstering regional integration and forms part of bigger effort to bind African markets closer together
Bank of Uganda warns loss of aid is ‘source of uncertainty’
Central bank says further exchange rate depreciation in the wake of the country's new anti-homosexuality law could create ‘stronger inflationary pressures'
IMF urges full recapitalisation of Ugandan central bank
The Bank of Uganda was recapitalised by the government in June 2013, but further capital injections will depend on the central bank's ability to ‘streamline’ operational costs
East African states strike deal over monetary union
Political leaders from Burundi, Kenya, Rwanda, Tanzania and Uganda sign protocol outlining the path towards an East African single currency area
IMF paper discerns East African transmission mechanisms
Transmission mechanism ‘functions best' when signals are clear and the monetary regime simple and coherent; non-monetary factors are ‘main drivers' of macroeconomic outcomes in examined countries
East African central banks take different approaches to rising inflation
Bank of Uganda hikes key rate by 100bp to 12% as food shortages push crop prices up by 16% in August; Central Bank of Kenya dismisses own inflationary pressures and holds rates
Ugandan governor rejects president’s growth target
Emmanuel Tumusiime-Mutebile says it is impossible for Uganda to become a middle-income country by 2017, as it will take two decades for the country to double its GNI per capita
IMF working paper calls for consistency in East African monetary policy
Study into monetary transmission mechanism in the East African Community finds policy tools often used in a contradictory manner
Bank of Uganda annual report emphasises adaptation to tough times
Annual report for 2011/12 suggests move to ‘inflation targeting lite’ framework helped bring a spike in inflation under control
Uganda cuts rates to 12.5% in bid to spur domestic economy
Bank of Uganda cuts benchmark rate to 12.5% in bid to boost domestic growth as inflation falls within medium-term target
Bank of Uganda rejects legal challenge over NBC seizure
Ugandan central bank questions the legitimacy of court order blocking its takeover of a commercial bank and the subsequent sales of its assets
Ugandan deputy governor explains decision to nationalise NBC
Bank of Uganda takes over commercial bank after prolonged period of losses; Louis Kasekende says there was no other choice
Bank of Uganda deputy calls for more empirical research in Africa
Louis Kasekende says policy-making in Africa is frequently made more difficult by limited empirical evidence; sets out a number of steps to improve quality of econometric analysis
Bank of Uganda awaits confirmation of four board members
The terms of four out of six members of the Bank of Uganda’s Board expired in June; no word yet on replacements
African central bankers embrace a new world order
Africa’s central bankers are adopting new approaches to managing their reserves as trade with Brics rises and the influence of developed nations wanes
Uganda defends monetary policy
Executive director of research at the Bank of Uganda releases a statement explaining the central bank’s monetary policy; outlines what policy can do and what it cannot
Developing country scoops currency award
Ugandan shilling wins 2011 Best Series Award from International Association of Currency Affairs
Uganda launches early retirement scheme
Two-hundred and fifty employees at the Bank of Uganda have retired as the retirement age is reduced to 55 years old
Uganada’s Tumusiime-Mutebile on reforming debt markets
Bank of Uganda governor Emmanuel Tumusiime-Mutebile calls for greater participation of brokers in debt markets
Uganda’s Kasekende on benefits of African cooperation
Bank of Uganda deputy governor Louis Kasekende says stronger cooperation in African region will enable countries to exploit growth opportunities