ACME issue brief no. 2 – Spend only money that is budgeted

This is a publication of the African Centre for Media Excellence.

Uganda is one of 188 member countries of the IMF, having joined the Fund in September 1963. Uganda no longer receives money from the IMF — it graduated from having a financial support relationship. What Uganda has now is a PSI relationship where the IMF writes a report twice a year on the country’s met and unmet macroeconomic targets. A surveillance relationship is where the IMF gives an opinion once a year. The IMF is a monetary institution (meaning if it lends money, it does so to central banks to stabilise aspects like balance of payments) whereas the World Bank is a development institution.

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The issues highlighted in this brief were part of a talk given by Ms Ana Lucia Coronel, the IMF senior resident representative and mission chief in Uganda, at ACME in June 2014. Play or download the full talk below.