Nevertheless, the Federal Reserve is always prepared to provide information to depository institutions on the balances in their accounts with us throughout the day, so that they can identify shortfalls and seek funding in the market. The Federal Reserve will be prepared to lend in appropriate circumstances and with adequate collateral to depository institutions when market sources of funding are not reasonably available.
I am pleased to be here in Kigali for this 23rd Ordinary Meeting of the East African Community Monetary Affairs Committee (MAC). Allow me to give you an overview of the economic prospects back home. Uganda’s economy remains strong, with growth projected at 6.3 percent in FY 2019/20, largely driven by the accommodative monetary policy stance and the ongoing public infrastructure investments.