H.E. Yoweri Kaguta Museveni hosted Mr. Abebe Aemro Selassie, Director of the African Department at the International Monetary Fund, at State House, Entebbe, where discussions focused on Uganda’s economic trajectory and strategies to expand the national tax base within a rapidly evolving global landscape. During the meeting, the President briefed the IMF delegation on the performance of Uganda’s economy, noting that growth had remained resilient at approximately seven percent annually. He expressed confidence that the upward trend would be sustained and further accelerated through deliberate emphasis on value addition, particularly in agriculture and manufacturing.
The President underscored that durable economic transformation required a stable security environment, observing that development and defence capacity were mutually reinforcing pillars of state-building. He reiterated Uganda’s long-held policy position that the private sector should remain the principal engine of wealth creation, with government’s role centered on enabling regulation, strategic investment, and macroeconomic stewardship. In this regard, he highlighted ongoing efforts to reduce structural production costs, including investments in electricity generation and transmission, digital connectivity, fuel supply chains, railway transport, and pipeline infrastructure. These measures, he noted, were critical to enhancing competitiveness and positioning Uganda more strongly within regional and global value chains.
The President further emphasised the importance of accessible and affordable financing for producers, referencing the catalytic role of national development finance institutions in providing patient capital to priority sectors. He observed that while Uganda’s domestic market continued to expand, sustained growth would depend on strengthened access to regional and international markets, supported by consistent value addition and export diversification. Mr. Selassie commended Uganda’s record of macroeconomic stability and steady growth, describing it as notable within the broader African context. He encouraged the continuation of reforms aimed at broadening the tax base, strengthening domestic revenue mobilisation, and deepening economic formalisation, while safeguarding social and developmental priorities.
Both sides acknowledged the importance of coordinated policy responses amid global economic uncertainties, including inflationary pressures, debt vulnerabilities, and shifting trade dynamics. The engagement reaffirmed the constructive partnership between Uganda and the IMF, grounded in shared objectives of macroeconomic stability, fiscal sustainability, and inclusive development.
The meeting concluded with a mutual commitment to sustained dialogue and technical collaboration in support of Uganda’s long-term economic transformation agenda.
President Museveni meets Abebe Aemro Selassie, Director of the IMF’s African Department and delegation
Photo Credit: Presidential Press Unit
