Uganda Case Study, IMF, UN, WTO
1. Uganda case questions: Has Uganda been a success story since 1987?
Overall, based on the changes in Uganda, recovery is a success. Although reform is still in the works, the actions taken thus far have steered the country in the right direction for continued growth. Success can be seen but progress is still needed:
Success: Reversing the decision to ban the Asians, and with their returning came the business knowledge, lead to a resurgence of productivity. Privatization caused a boost as well, and many businesses are seeing growth. Infrastructure repair and restoration is another benefit. Inflation stabilized and annual revenue is climbing. Tax reform now generates revenues. Foreign exchange has risen, leading to market and monetary exchange rate stabilization. Exports are growing; equality is one the rise; and the GDP is up. These all make a statement as a successful transition from the quagmire the nation was in.
Needs improvement: Recovery is not widespread. The focus seems to have been in the south and developing other areas did not happen. Large portions of the population remained in poverty. Internal conflict in the north and west placed a large burden on military spending. External debt remained high, creating an unsustainable burden. Although these items are being addressed, the conditions exist and become a hindrance to full economic recovery.
On what criteria should success be measured?
The success of recovery could be measured in terms of a functional infrastructure, health and happiness of the people, stable economy, and ability to meet obligations. Growth numbers and statistics are good indicators, but the recovery of a nation is more than just numbers. If the health of the population is failing, internal struggles are on the rise, and the government is rife with corruption, the nation is not able to sustain itself. With failing health and internal corruption, the world would not view this as success. Generating an interest from outside
Overall, based on the changes in Uganda, recovery is a success. Although reform is still in the works, the actions taken thus far have steered the country in the right direction for continued growth. Success can be seen but progress is still needed:
Success: Reversing the decision to ban the Asians, and with their returning came the business knowledge, lead to a resurgence of productivity. Privatization caused a boost as well, and many businesses are seeing growth. Infrastructure repair and restoration is another benefit. Inflation stabilized and annual revenue is climbing. Tax reform now generates revenues. Foreign exchange has risen, leading to market and monetary exchange rate stabilization. Exports are growing; equality is one the rise; and the GDP is up. These all make a statement as a successful transition from the quagmire the nation was in.
Needs improvement: Recovery is not widespread. The focus seems to have been in the south and developing other areas did not happen. Large portions of the population remained in poverty. Internal conflict in the north and west placed a large burden on military spending. External debt remained high, creating an unsustainable burden. Although these items are being addressed, the conditions exist and become a hindrance to full economic recovery.
On what criteria should success be measured?
The success of recovery could be measured in terms of a functional infrastructure, health and happiness of the people, stable economy, and ability to meet obligations. Growth numbers and statistics are good indicators, but the recovery of a nation is more than just numbers. If the health of the population is failing, internal struggles are on the rise, and the government is rife with corruption, the nation is not able to sustain itself. With failing health and internal corruption, the world would not view this as success. Generating an interest from outside
References: 1. IMF: http://www.imf.org/external/about/whatwedo.htm 2. World Bank: http://go.worldbank.org/7Q47C9KOZ0 3. UN: http://www.un.org/en/aboutun/index.shtml 4. WTO: http://www.wto.org/english/thewto_e/whatis_e/what_we_do_e.htm