The IMF’s Support for Uganda’s Health Care, Most Vulnerable, Businesses, and Stability
May 22, 2020
The coronavirus pandemic has hit Uganda’s economy and population severely. The country faces a significant contraction in economic activity, including a drop in domestic demand, supply disruption, and a decline in foreign direct investment and remittances.
To help the country overcome its economic difficulties, the IMF has approved a loan under the Rapid Credit Facility (RCF)—totaling around $491.5 million.
IMF Country Focus recently talked to the IMF’s resident representative in Uganda, Clara Mira, who described the economic situation confronting Uganda, and how the country will use the RCF resources from the IMF.