Strength­ened Eco­nomic Growth

ChinAfrica - - NEWS ROUNDUP -

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.

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