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The first Ugandan shilling (UGS) replaced the East African shilling in 1966 at par. Following high inflation, a new shilling (UGX) was introduced in 1987 worth 100 old shillings. The shilling is usually a stable currency and predominates in most financial transactions in Uganda, which has a very efficient foreign exchange market with
Since 1995, Uganda has experienced rapid economic growth, but it is not clear to what extent this positive development can be attributed to Structural Adjustment. [25] Uganda is a member of the World Trade Organization, since 1 January 1995 and a member of the General Agreement on Tariffs and Trade, from 25 October 1962. [26]
The per capita income in Uganda in 1999 was approximately US$650 annually. [1] In 2013, an estimated 19.5 percent of the 35 million Ugandans lived on less than US$1.00 per day. [1] [2] Compiled here is a list of individuals in Uganda whose accumulated assets are known to be markedly
Some countries have not changed their currency despite being post-colonial, for example Uganda retains the Ugandan shilling. Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same.
Although the government envisioned annual economic growth rates of about 5.6 percent in the early 1970s, war and political instability almost destroyed Uganda's once promising economy. [2] GDP declined each year from 1972 to 1976 and registered only slight improvement in 1977 when world coffee prices increased. [2]
The Ugandan government downplayed the post, with a spokesperson describing Gen Kainerugaba's social media statements as "casual" remarks that should not be interpreted as reflecting official policy.
Since the 1980s, India has emerged as one of the largest investors and trading partners of Uganda. [2] [7] Bilateral trade between the two countries amounted to $728 million in 2010–11, with the balance of trade heavily in India's favour with Ugandan exports to India accounting for only $16.7 million of the total trade.
Ugandan military prosecutors on Monday added a charge of "treachery" - which carries the death penalty - to the list of violations of military law they say were committed by a prominent opposition ...