UGANDA

UGANDA
Table 1.2. Uganda: Structural Benchmarks (continued)
Regulations for
implementation of the PFM
Act in line with international
best practice to become
effective.
Ensure efficient PFM
implementation and oil
revenue management by
providing guidelines,
clarifying and making
specific those aspects
that are general in the
law.
June 2016
Met.
Instructions are being
prepared to
complement the
Regulations—to be
reviewed by the Fund.
Ministry of Finance to send
to Parliament the charter of
fiscal responsibility.
To improve fiscal and
macroeconomic
management.
September
2016
Met. Sent to Parliament
on August 18th.
The Ministry of Finance to
strengthen the AML/CFT
framework in line with the
international standard, and
to liaise with Parliament to
ensure the following: (i)
amending the AML Act to
give the FIA the sole
authority to appoint its own
staff, and enable the FIA and
supervisory bodies to
provide international
cooperation to their foreign
counterparts; (ii) amending
the Capital Markets Authority
Act and Insurance Regulatory
Act to give regulators
adequate supervisory powers
to monitor compliance with
AML/CFT obligations; and
(iii) providing the legal basis
and procedural mechanisms
for the freezing of terrorist
assets under UNSCR 1267
and 1373.
To strengthen the
financial system
safeguards
June 2016
Not met.
Additional deficiencies
(highlighted in the 2016
Mutual Evaluation
Report) are addressed
by the Anti-Money
Laundering
(amendment) which has
been tabled in
Parliament. The
Insurance Regulatory
Authority (amendment)
Bill was recently
resubmitted to the First
Parliamentary Council
before being sent to the
relevant Parliamentary
Committee.
December
2016
Ministry of Finance should
finalize, publish and
disseminate the Appraisal
User Manual to all Ministries,
Departments and Agencies.
To provide guidelines
and procedures for
undertaking a project
through each stage of
the project cycle.
December
2016
Expected to be met.
Status: Second draft of
the manual is
undergoing consultative
review. Once comments
from this process are
incorporated, the
manual will be published
and disseminated.
44 INTERNATIONAL MONETARY FUND