Strengthened Economic Growth

Uganda’s central bank, the Bank of Uganda, said the country’s economy will grow at 6.3 percent in the medium term. Emmanuel Tumusiime Mutebile, Governor of the Bank of Uganda, told reporters that economic growth continues to strengthen, while the real GDP growth for financial year 2017/18 is estimated at 5.5 percent compared to 3.9 percent in 2016/17. He said the growth is supported by public infrastructure investments, improving agricultural productivity, recovery in foreign direct investment, and strengthening private sector credit growth. He noted that this is partly as a result of the easing monetary policy. About the core inflation forecast, Mutebile said it will continue rising and peak in the range of 6-7 percent in the second half of financial year 2018/19, but will stabilize around the medium-term target of 5 percent by end of 2019. become the first black African secretary general of the UN, has died at the age of 80.

His foundation announced his death in Switzerland on August 18 in a tweet, saying he died after a short unspecified illness. Annan was born on April 8, 1938 into an elite family in Kumasi, Ghana, the son of a provincial governor and grandson of two tribal chiefs. Annan spent virtually his entire career as an administrator in the UN. His aristocratic style, cool-tempered elegance and political savvy helped guide his ascent to become its seventh secretary general, and the first hired from within. He served two terms, from January 1, 1997 to December 31, 2006 and was awarded the Nobel Peace Prize jointly with the UN in 2001.