Emerging economies other than China and commodity-exporting economies have been recovering moderately on the whole, mainly reflecting an increase in exports and the effects of economic stimulus measures. Going forward, as domestic demand has remained firm,  1  those economies are likely to continue their moderate recovery, partly supported by trading with advanced economies. B.
I want to emphasize that within the financial sector, Bank of Uganda with its regulatory mandate will continue to promote financial innovations. Efficient and effective regulation promotes competition, which in turn lead to innovations and lower costs of financial intermediation. In addition, Bank of Uganda has played and indeed continues to play a major role in the East African Monetary Integration efforts.