African central banks aised on curbing inflation

The Governor Bank of Uganda, Mr Emmanuel Tumusiime Mutebile, has asked African central banks to adopt the inflation targeting monetary policy frameworks, saying it is very effective in controlling the increase in prices of commodities and stabilising interest rates.

While delivering his keynote address during the International Monetary Fund and Bank of Uganda conference in Kampala yesterday, Mr Mutebile said: “I strongly believe that it is both feasible and desirable for central banks in Sub-Saharan Africa to modernise their monetary policies and adopt inflation targeting frameworks.”

The conference sought to find ways through which African economies can transition to modern monetary policy frameworks for low income countries. Uganda implemented the inflation targeting-monetary policy framework in 2011 after inflation had skyrocketed to 30.1 per cent.


Leave a Reply


Security Stymies Effort to End Ebola in Congo

GENEVA – The World Health Organization says that dangers posed by armed groups in two eastern Democratic Republic of Congo provinces are impeding progress in the battle to stop the spread of the deadly Ebola virus. Latest reports put the number of con…

Rights Groups Defend AP Reporter Forced to Leave South Sudan

For years, Sam Mednick has covered developments in South Sudan for the Associated Press, but last month she was forced to leave the country, after the government’s media authority accused her of reporting false information and revoked her credentials.N…