Uganda
Ugandan social security fund’s outside investments performing well, CIO says
Gerald Kasaato says investments in Kenya are performing well; greater use of external managers could be ‘very beneficial’ if restriction to East Africa investment is expanded
Bank of Uganda takes rate hikes to 600bp in five meetings
Bank of Uganda raises rates for fifth consecutive time by 100bp to 17% in a move to curb inflation; sees earlier moves taking effect
EAC officials highlight exchange rate pass-through concerns
Both central banks wary of potential for domestic inflation to increase in face of depreciating currencies; concerns over impact of external environment raised in EAC member statement
East African governors say structural measures needed to stabilise currencies
Senior central bank officials from Burundi, Kenya, Rwanda, Tanzania and Uganda identify measures necessary to ensure long-term stability of their currencies
East African countries top Brookings table on inclusion
Study by think tank in Washington, DC, evaluates inclusion efforts in 21 diverse countries; Kenya, Rwanda and Uganda achieve high scores across categories
Uganda raises rates again to tackle inflation risks
Bank of Uganda hikes its policy rate to head off inflationary pressures but analyst warns the move will be ineffective unless overnight rates on the interbank market respond
IMF calls on East African Community to explore risk-sharing
Paper explores the nature and prevalence of asymmetric shocks in the EAC, concluding it is ‘critical’ it has shared mechanisms for absorbing them when its members form a monetary union
Ugandan governor on road to recovery after falling ill
Emmanuel Tumusiime Mutebile treated in hospital after falling ill last week; now in South Africa for ‘medical review’ where central bank says he is ‘in good spirits’
People: Dallas Fed names interim president; Ukraine adds deputy governor
Helen Holcomb holds the fort at Dallas Fed after Richard Fisher retires; National Bank of Ukraine appoints another acting deputy governor; Cleveland Fed names new research head; and more
Bank of Uganda explains currency dynamics
Central bank attributes depreciation of the shilling against the dollar to both the strengthening of the US currency and the increase in demand for the greenback to fund imports and pay dividends
Uganda governor troubled by effect of low oil prices on public finances
Uganda must have a ‘far-sighted long-term fiscal policy’ that recognises the threat falling oil prices pose to the health of public finances, argues central bank governor
IMF: Uganda cut policy meetings to improve forecasts
Bank of Uganda now sets policy once every two months in an effort to base decisions on "firmer" data; the ECB will hold eight meetings in 2015 with the BoE set to follow suit in 2016
Uganda eyes short-term foreign liabilities as reserves measure
Deputy governor Louis Kasekende says Bank of Uganda has begun to track reserves levels against short-term foreign liabilities such as portfolio outflows; details how QE has hit reserves income
Rwandan governor: East African Monetary Union progressing ‘as planned’
John Rwangombwa says there are ‘big gaps’ between the five member states of the East Africa Community, but he is ‘comfortable’ with the progress towards closing them
IMF and EAC partner up to improve regional statistics
The East African Community will receive technical assistance from IMF in effort to improve its collection of government finance statistics; Rwandan governor says partnership is ‘important’
South Sudan to East African Community: ‘do not reject us’
East African Community sends 'high level technical mission' to South Sudan in first step of a accession process which it expects will be 'tedious'
Bank of Uganda halves number of MPC meetings
Uganda’s central bank says ‘less frequent’ policy announcements will help businesses plan; MPC will now meet every other month
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