Uganda in talks for new funding ground with IMF: Reuters

Uganda in talks for new funding ground with IMF: Reuters

Uganda is currently in negotiations with the International Monetary Fund (IMF) to secure a new round of funding, following the expiration of its previous Extended Credit Facility (ECF) program. The previous ECF, worth about $1 billion, lapsed last year with approximately $870 million of the program's funding being disbursed [1].

The new ECF program is expected to be presented to the IMF Board after Uganda's general elections, scheduled for early 2026. Uganda is eager to agree on a new funding program to address its mounting public debt and find fresh sources of cheap funding.

Uganda's total public debt rose by 17.8% in 2024 to $29.1 billion, with the debt-to-GDP ratio increasing to 52.1% from 49.9% in the previous period [1]. The IMF cited program implementation challenges and external funding constraints as reasons for the expiration of the previous funding round.

The negotiations come as Uganda seeks to stabilize its economic situation and manage its public debt effectively. The new funding round is crucial for the country's economic stability and growth prospects.

References:
[1] https://www.reuters.com/world/africa/uganda-says-it-is-negotiating-new-funding-round-with-imf-2025-09-02/