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BOU’s Atingi-Ego, Finance’s Ggoobi for Stanbic Economic Outlook forum

Deputy Governor Dr. Michael Atingi-Ego Michael Atingi-Ego

Kampala, Uganda | THE INDEPENDENT | Deputy Bank of Uganda Governor Dr. Michael Atingi-Ego has been named among the high-level panelists to headline Stanbic Bank’s annual Economic Outlook Forum slated for tomorrow at Kampala Serena Hotel.

Held annually, this year’s forum will run under the theme “Uganda- A Tale of resilience and cautious optimism; Coming off a relatively difficult 2 years, what should we expect in 2022?” 

Over 700 participants from the private sector, government, civil society, and the academia are expected to attend the event which will be hosted both virtually and physically.

 Phillip Ssali, Head, Global Markets Sales, CIB at Stanbic Bank Uganda said, “we have put together a panel that features highly respected public sector and industry leaders.  Each will bring unique perspectives to the conversation as the country charts an economic recovery route after two years of Covid-19 induced lockdowns.”

Dr Atingi-Ego, the Deputy Governor, Bank of Uganda will provide a Central Banker’s view of the economy in the context of a Covid-19 Pandemic which is still raging, two years later.

In its December 2021 Monetary Policy advisory, BOU hinted that the economy will gradually recover after the second wave of the pandemic. However, the statement also added a precautionary note regarding the emerging variants such as Omicron and ‘whatever variant follows it…’ which are likely to hurt this recovery. Participants in Friday’s forum will be looking forward to hearing an update on this perspective as well as insights on policy support towards the recovery, financial inclusion and how these are anticipated to impact the economy.

Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury at the Ministry of Finance Planning and Economic Development will speak to what is it like to manage a country’s budget during slow economic times when revenue collection projections are hard to meet while the country’s list of priorities keeps growing? What does the full reopening of the economy, the recent signing of the Oil & Gas Final Investment Decision, as well as the impending launch of the Parish Development Model—a new government strategy to get 39% of households into the money economy, mean for Uganda?  Ggoobi will share an insider’s insight in context of other national developments.

Jibran Qureishi, the head AR, Economics Research, Standard Bank is another panellist at the forum. Mid-last year, Qureishi remarked that Central Banks in several African nations are likely to overlook quickening inflation and keep interest rates on hold at least until the third quarter of next year, this, on account of higher money-market yields which suggest price-growth expectations would remain put. Is this still the case? What factors are likely to influence central bank monetary policy making in 2022? As a panellist this Friday, Qureishi’s informed analysis into African market dynamics is one of the many things for participants to look out for.

Commenting about the forum, Anne Juuko, the Stanbic Bank Uganda Chief Executive who will also double as the moderator of the high-level panel said this year’s forum is unique in that it comes at a time when everyone is warming up to tap into opportunities that are unfolding after the government’s decision to reopen all sectors of the economy.

“As a bank, we believe that by organizing such events, we are not only bringing together top thought leaders to share their knowledge about key issues of the day, but also supporting efforts geared towards reviving our economy after two years of Covid-19 related disruptions,” she said.

 

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