Uganda’s reserves will decline without external support – IMF

The International Monetary Fund, IMF says Uganda’s foreign exchange reserves will fall without external help.

The IMF in a statement issued on Friday explained that the expected deterioration in the current, capital and financial accounts would result in a sharp decline of the Bank of Uganda’s (BoU) reserve buffer.

“This would be below the adequate level of reserves for Uganda, and would leave the country in a vulnerable position,” it added.

Source: Voice of Nigeria