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This Technical Assistance Report discusses technical advice and recommendations given by the IMF mission to the authorities of Uganda regarding finalization of the rebased GDP estimates for dissemination. For the economic activity worksheets, the nominal and real growth rates, intermediate consumption/gross output ratios at current and constant prices, and implicit price deflators were checked. A number of adjustments were made to the methodology to improve the representativeness of the indicators and the weights of the composite price indices to ensure the resulting estimates are within expectations. There is considerable scope to improve the price deflators and constant price estimates. Technical Assistance to improve the expenditure estimates will be provided during 2015.
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.