Economics
IMF Says Uganda Currency Overvalued, Urges Minimal Intervention
- Shilling’s gained 3.5% this year and is Africa’s 5th-best unit
- Mission in December will determine level of overvaluation
Prices in Ugandan shillings displayed on sacks of fresh grain on a stall at Owino Market in Kampala, Uganda.
Photographer: Katumba Badru Sultan/BloombergThis article is for subscribers only.
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Uganda’s shilling is moderately overvalued, according to the International Monetary Fund, which urged the East African nation’s authorities to only intervene in moments of “extreme” market distress.