Uganda To Get $17m Loan From IMF
Sep 20, 2002
THE International Monetary Fund (IMF), last week approved a three- year $17m loan to Uganda under the Special Drawing Rights (SDR) scheme, Bank of Uganda (BOU) officials have said.
By Steven Odeu
and Davis Weddi
THE International Monetary Fund (IMF), last week approved a three- year $17m loan to Uganda under the Special Drawing Rights (SDR) scheme, Bank of Uganda (BOU) officials have said.
During a monthly briefing, BOU reasearch deputy director Rweyemamu Rweikiza said IMF praised Uganda for the progress it had made towards reducing poverty.
“The good news this week is that, IMF has approved $13.5m to Uganda for poverty reduction. Under the SDR scheme, this amount could be more,†Rweikiza said.
SDR is a yearly programme under which the IMF offers loans to countries that have successfully implemented conditioned policies.
The money can be withdrawn from a specific financial institution in instalments.
The UN Human Development Report for 2002 ranks Uganda 150th out of 173 countries and reports that it is “far behind†in attempts to reach the millennium development goal of halving by 2015 the proportion of people suffering from hunger. Ends
and Davis Weddi
THE International Monetary Fund (IMF), last week approved a three- year $17m loan to Uganda under the Special Drawing Rights (SDR) scheme, Bank of Uganda (BOU) officials have said.
During a monthly briefing, BOU reasearch deputy director Rweyemamu Rweikiza said IMF praised Uganda for the progress it had made towards reducing poverty.
“The good news this week is that, IMF has approved $13.5m to Uganda for poverty reduction. Under the SDR scheme, this amount could be more,†Rweikiza said.
SDR is a yearly programme under which the IMF offers loans to countries that have successfully implemented conditioned policies.
The money can be withdrawn from a specific financial institution in instalments.
The UN Human Development Report for 2002 ranks Uganda 150th out of 173 countries and reports that it is “far behind†in attempts to reach the millennium development goal of halving by 2015 the proportion of people suffering from hunger. Ends