Uganda Pursues Fresh IMF Support as Elections Near

Uganda is pursuing a new funding round from the International Monetary Fund (IMF) after a prior Extended Credit Facility (ECF) of USD 1 billion—initiated in 2021—expired in 2024, with only USD 870 million disbursed. The Finance Ministry’s Permanent Secretary, Ramathan Ggoobi, confirms that the proposal for a successor loan will be tabled to the IMF Board after the scheduled general elections in early 2026 (likely January or February). The move stems from mounting public debt, which rose by 17.8% in 2024 to USD 29.1 billion, or 52.1% of GDP.