Uganda faced a number of challenges at the time of embarking on financial sector reforms. These challenges were complicated by decades of economic mismanagement and political instability that had prevailed in the country. In particular, there were concerns about the inadequacy of a critical mass of skilled and experienced financial sector players. This shortcoming inherently induced undue impediments to Uganda's corporate reporting regime. Further shortcoming were related to the lack of comprehensive financial information and underlying databases. It is now recognized that investment in financial data gathering usually provides the required critical support base for monitoring efforts and for crisis prediction in the financial sector...


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