The IMF and Uganda reached a staff-level agreement for a $1 billion program under a three-year extended credit facility. The African country said last month it had applied for an IMF loan to bolster its shaky finances after the COVID-19 pandemic hammered its economy. Last year, the Fund loaned Uganda over $490 million. The IMF-supported program supports the next phase of the COVID-19 response and strengthens the fundamentals of a more inclusive private sector-led growth.
Source : CNBC Africa