Uganda is pledging tighter budget discipline, stricter tax policies and measures to control inflation as it seeks to strengthen its sovereign credit rating and improve access to financing, the government said. Finance Minister Henry Musasizi's delegation presented these commitments during meetings with Moody's Ratings in Bangkok, Thailand, during the 2026 annual meetings of the World Bank Group and the International Monetary Fund.
Bank of Uganda Governor Michael Atingi-Ego told the ratings agency that the central bank has taken steps to contain inflation and stabilise the depreciating shilling, including tightening liquidity amid difficult global financial conditions. Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi said the government was implementing a budget discipline and accountability charter, improving project implementation, and adopting a tighter tax policy without reliefs. The government has signalled it will not provide subsidies or unnecessary supplementary budgets.
For savers and borrowers in Uganda, stronger credit ratings and better access to financing could eventually lower borrowing costs and improve economic stability. Businesses may benefit from improved investor confidence and better conditions for accessing capital.
The delegation also met officials from the Global Sovereign Advisory team and Citi Bank to discuss financing options including green bonds and the Standard Gauge Railway project. Uganda participated in meetings with the Africa Group One Constituency, representing 22 sub-Saharan African countries, and the Coalition of Finance Ministers for Climate Change.