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Uganda - Economic Recovery Program (English)

The proposed credits support policies and measures under the government's Economic Recovery Program. Some of the policy actions already taken include: (i) a currency reform; (ii) a 77 percent devaluation; (iii) increases in producer prices; (iv) increases in prices of petroleum products and, (v) doubling of the civil service wage bill as of June 1, 1987. Future actions to be taken under the program include those reforms agreed to in the context of the Policy Framework Paper (PFP) in the areas of fiscal management where the restoration of financial discipline is called for; money and credit where a key objective is to reduce inflation; the exchange rate, where there is a need to maintain a realistic exchange rate for the Uganda Shilling and trade policy where the main initiative will be the introduction of a limited Open General Licensing System under which import licenses and foreign exchange will be provided freely upon request. Overall, the thrust of the policy reforms over the next twelve to eighteen months will be towards stabilizing the economy and thus creating a policy environment conducive to rapid growth with an efficient use of resources.

Details

  • Document Date

    1987/08/19

  • Document Type

    President's Report

  • Report Number

    P4625

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Uganda,

  • Region

    Africa,

  • Disclosure Date

    2010/06/24

  • Disclosure Status

    Disclosed

  • Doc Name

    Uganda - Economic Recovery Program

  • Keywords

    foreign exchange;swedish international development authority;Exchange Rates;producer price;commercial bank;danish international development;Monetary and Credit Policies;rate of inflation;price petroleum product;efficient use of resource;civil service wage bill;balance of payment;export crop;industrial sector;composition of government expenditure;real effective exchange rate;real gross domestic product;economic and sector work;nominal exchange rate;marketing board;export duties;agricultural sector;real gdp;Macroeconomic Policy;agricultural producer price;Exchange rate policies;exchange rate policy;net domestic credit;acceleration of inflation;parallel market rate;demand for import;currency conversion;tax revenue;banking system;price of sugar;reduction in inflation;commercial interest rate;movement of good;government tax revenue;power and water;official foreign exchange;payment of interest;import of goods;external debt burden;amount of credit;total debt service;export of goods;misappropriation of fund;share of wage;increase in prices;market exchange rate;strict fiscal discipline;foreign capital inflow;exchange rate system;fixed exchange rate;lack of accountability;machinery and equipment;cost of credit;net foreign asset;overvalued exchange rate;official exchange rate;working capital requirements;source of revenue;resurgence of inflation;public sector resource;Foreign Exchange Reserve;Civil Service Reform;fall in inflation;loss in revenue;cash crop production;international coffee price;acceleration in inflation;supply of spare;law and regulation;current account surplus;number of road;per capita term;improvements in efficiency;foreign exchange allocation;

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Citation

Uganda - Economic Recovery Program (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/169341468110057350/Uganda-Economic-Recovery-Program