I would like to highlight two areas where the Bank of Uganda has made a crucial contribution to the recovery of the Ugandan economy. The first is the control of inflation, which began in the early 1990s. Inflation was brought under control by a combination of fiscal and monetary reforms.
For this part, the European capital markets do not allocate capital directly between savers and investors, but rather through intermediaries. In the United States, where there is a very active corporate bond market, the situation is quite different, with bank loans only forming a major source of financing for small and medium sized companies.