IMF boss' visit very good for Uganda, says Kasaija

 Finance minister Matia Kasaija addressing a news conference in Kampala. PHOTO/Kennedy Oryema

The International Monetary Fund (IMF) managing director, Christine Lagarde, will arrive this evening for a four day state visit, at the invitation of President Yoweri Museveni.

Finance minister, Matia Kasaija, is expected to receive the visiting dignitary at the Entebbe international airport after which, she will visit the center for domestic violence prevention.

The IMF boss will there after visit Parliament, hold bilateral talks with President Yoweri Museveni, at the state house in Entebbe, and give a public lecture themed " becoming a champion, Uganda's development challenge" at the Kampala Serena hotel on Friday.

During her visit, she will share experiences of dealing with challenges of the recent global economic crisis, and its impact on Uganda's economy.

"She is also expected to engage with lawmakers, policy makers and other stakeholders, in affirmation of the IMF's strong relationship with Uganda. It has been a while since a sitting managing director of the IMF visited the country, and Lagarde's visit is an expression of confidence in our economy, "Kasaija said during a press conference today.

He said Lagarde's visit will provide an opportunity to build more rapport and strengthen the Fund's partnership with Uganda.

"Our relationship is historical as well as progressive as Partners. It is therefore very good news that the Chief Executive of the IMF has confirmed Uganda as a key destination on the continent. We look forward to constructive engagement on a wide range of economic and financial issues amongst others during the visit," he stated.

According to Kasaija, Uganda enjoys a very cordial relationship with the IMF, and Lagarde's visit is in recognition of the efforts the country has made in implementing sound economic policies since the 1990s.

Over the years the IMF has provided both financial and technical support to the microeconomic and structural reforms that we have undertaken, and also played a key role in mobilizing and securing debt relief for Uganda under both the highly indebted poor countries and the multilateral debt relief initiatives," Kasaija said.

The IMF country representative to Uganda, Clara Mira said Lagarde is expected to hold talks with the governor of the Bank of Uganda, Emmanuel Tumusiime Mutebile, some Ministry of finance officials, and members of the private sector.

The IMF is a global institution that promotes international financial stability and monetary cooperation, by facilitating international trade, promoting high employment and sustainable economic growth, and working to reduce poverty around the world.

The institution was founded by delegates of 44 nations in July 1944, at the Bretton Woods conference in New Hampshire, U.S.A, but now has all countries in the world as member states.

Lagarde, who previously held various ministerial posts in the French government, is a lawyer and politician who has been head of the Bretton Woods Institution (IMF) since July 2011.