To make this requirement operational, a systemic risk supervisor needs to be defined which would be in charge of assessing evolving risks based on well-defined methodologies. It is preferable for prescriptions to be made in accordance with contingent rules announced in advance to the public. The authorities’ role can be complemented with the advice of independent experts.
However, I think that the contention that there is under-investment by the private sector in urban structures is tenuous. Uganda does not lack investment in structures. Over the last five years, an average of 18 percent of GDP has been invested in structures in Uganda, with investment in structures comprising 70 percent of total gross fixed capital formation.