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IMF team expected in Uganda to review withheld funds

[Guinea-Bissau] Former Guinea-Bissau president Joao Bernardo "Nino" Vieira at the last rally of his campaign for the June 20 2005 presidential election in the capital Bissau on June 17. IRIN
Président Joao Bernardo Vieira, selon les résultats provisoires du deuxième tour
    BISSAU
    An International Monetary Fund (IMF) mission is due in Uganda next week to review the government's progress in balancing its budget to determine whether it gets more aid from the institution. "The mission will review the progress made and look at the budget for next year," an IMF source in Kampala told IRIN on Friday. He said the institution withheld US $18 million tranche of the Enhanced Structural Adjustment Facility (ESAF)- worth a total US $140 million - in March until the government addressed certain issues. "Delays in privatisation, rising expenditure on defence are among issues it has to address," he said, adding he was "confident" the outcome of the meeting would be positive. Meanwhile, the World Bank has approved two credits totalling US $48.38 million to Uganda.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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