UGANDA

UGANDA
Policy Measure
Ministry of Finance to submit
to Parliament amendments
to the Bank of Uganda Act
containing provisions to
support implementation of
inflation targeting in line with
international best practices,
including establishing the
capital of the BoU as an
adequate percent of
monetary liabilities, and
limiting the size of intra-year
advances to the government
to 10 percent of tax revenues
of the previous year.
Table 1.2. Uganda: Structural Benchmarks
Macroeconomic
Rationale
To strengthen monetary
policy independence and
credibility of the central
bank.
Date 1 Status Proposed
Revised
date
September
2016
Not met.
Draft Cabinet Memo on
the Principles for
Amending the BoU Act
to be presented to
Cabinet, thereafter, Bill
to Parliament.
Approval of Cabinet
Memo pending.
March 2017
Ministry of Finance to
publish reconciled reports
signed by the PS/ST on the
stock of unpaid bills of all
government entities
contained in the central
government votes at end-
December of each fiscal year.
To facilitate control and
reduction of unpaid bills.
February
15, 2016 for
December
2015 report
Not met. Dropped
because the authorities
will no longer be able to
publish a reconciled
report on the stock of
paid bills for
December 2015 as the
interim data are
superseded by the endyear
report.
March 2017
for December
2016 report
Ministry of Finance to
publish reconciled reports
signed by the PS/ST on the
stock of domestic arrears of
all government entities
contained in the central
government votes at end-
June of each fiscal year.
To facilitate control and
reduction of unpaid bills
and arrears.
June 2016 for
the June 2015
report
December
2016 for the
June 2016
report
Not met.
Expected to be met
December
2016
INTERNATIONAL MONETARY FUND 43