IMF says foreign exchange reserves will fall to under 2 months of import cover in 2020/21.
Without external help, Uganda’s foreign exchange reserves will fall to under 2 months of import cover in 2020/21 and leave the country in a vulnerable position, the International Monetary Fund said in a statement issued on Friday.
“This would be below the adequate level of reserves for Uganda, and would leave the country in a vulnerable position,” it added.