Nicole Ntungire

Nicole Ntungire is a former IGC Country Economist for Uganda.

She holds an MPA in Economic Policy Management from Columbia University’s School of International and Public Affairs and a Bachelor of Social Science (Honours) in Economics from the University of Cape Town. Prior to joining the IGC, Nicole was working at the Central Bank of Uganda as a Senior Economist in the Research and Policy Directorate. She has also worked at the World Bank, as a Short Term Consultant, analyzing the scope and effectiveness of collateral and bankruptcy laws in facilitating lending.

Nicole’s research interests are primarily in development economics with a focus on topics related to growth and poverty dynamics, as well as, monetary economics and macroeconomic policy in the context of developing and emerging economies.

Content by Nicole Ntungire
  • Blog post

    Has Uganda recovered from the COVID-19 lockdowns?

    The economic effects of the pandemic were rapid and difficult for policymakers to respond to. Moreover, conventional economic indicators require longer time periods for efficacy. In our study, we utilised electricity consumption as an indicator for economic activity during and after the pandemic in Uganda, and find a decline in electricity consumption during...

    26 Jul 2022 | Nicole Ntungire, Leonard Gichia, Priya Manwaring

  • Publication - Policy Brief

    Electricity usage: An early signal of the impact of COVID-19 on Uganda’s economy

    Since the beginning of the COVID-19 pandemic, Uganda has put in place swift policy responses, including country-wide restrictions on the movement of people and a national curfew. A critical challenge throughout this period has been a lack of timely economic indicators to better understand both the effects of the health crisis and of government policies in response. ...

    30 Mar 2021 | Nicole Ntungire, Leonard Gichia, Priya Manwaring

  • Publication - Project Report

    What is the fiscal costs of tax incentives in Uganda?

    20 Jan 2021 | Nada Eissa, Priya Manwaring, Nicole Ntungire, Jakob Rauschendorfer

  • Project

    Electricity usage: An early signal of the impact of COVID-19 on Uganda’s economy

    As the coronavirus pandemic continues to take its toll on the world, several governments have taken unprecedented measures to contain the speed of transmission and buy time to build much-needed testing and treatment capacity. The problem, however, is that in a rapidly changing global and domestic environment, official government statistics that would typically be availed...

    7 Dec 2020 | Priya Manwaring, Nicole Ntungire, Leonard Gichia

  • Project

    Estimating income losses and consequences of the COVID-19 crisis in Uganda

    COVID-19 continues to take its toll on the world and more recently, the African continent. While the continent still accounts for fewer cases or deaths, in cities such as Uganda, the incidence of the disease has risen sharply. Uganda is not new to infectious diseases and has successfully battled outbreaks of Ebola, Marburg and even HIV/AIDS. Whilst COVID-19 has...

    27 Nov 2020 | Stephen D. Younger, Albert Musisi, Wilson Asiimwe, Nicole Ntungire, Jakob Rauschendorfer, Priya Manwaring

  • Publication - Working Paper

    Estimating income losses and consequences of the COVID-19 crisis in Uganda

    The recent COVID-19 pandemic has come at an overwhelming cost to both developed and developing countries; Uganda is no exception. Despite having relatively few cases, the pandemic’s indirect effects arising from an economic contraction and global recession, as well as the direct effects through ill health and death, are likely to have a devastating impact on poverty...

    26 Nov 2020 | Stephen D. Younger, Albert Musisi, Wilson Asiimwe, Nicole Ntungire, Jakob Rauschendorfer, Priya Manwaring

  • Publication - Project Report

    Estimating income losses and consequences of the COVID-19 crisis in Uganda

    20 Nov 2020 | Stephen D. Younger, Albert Musisi, Wilson Asiimwe, Nicole Ntungire, Jakob Rauschendorfer, Priya Manwaring

  • Publication - Project Report

    Exploring the determinants of interest rate spreads in the Uganda banking system

    Interest spreads in Uganda have been persistently high over the last two decades. This paper aims to complement the literature by investigating the determinants of interest rate spreads in Uganda, following the period after the adoption of Inflation Targeting, using three different approaches: First, a cross country comparison with regional peers; Second, a...

    10 Jul 2020 | Keith Jefferis, Elizabeth Kasekende, Doreen Rubatsimbira , Nicole Ntungire

  • Publication - Policy Brief

    The determinants of interest rate spreads in the Uganda banking system: Results from a new analysis of banking system data

    There have long been concerns about high-interest rates charged by banks in Uganda and wide spreads between deposit and lending rates. This makes it difficult for firms to borrow for the productive investment that is required to achieve high rates of economic growth. This study investigates the determinants of interest rate spreads in the Uganda banking system, using...

    13 Mar 2020 | Keith Jefferis, Elizabeth Kasekende, Nicole Ntungire, Doreen Rubatsimbira

  • Multimedia Item - Video

    Video: Inclusive growth in Uganda

    As Uganda's population continues to increase, inclusive growth and improving productivity will be vital to the country's development. IGC Uganda Country Economist Nicole Ntungire explains.

    18 Nov 2019

  • Multimedia Item - Video

    Mobile phone technology and Uganda's development

    IGC Country Economist Nicole Ntungire discusses how mobile phones have the potential to play an important role in Uganda's development, particularly through mobile banking and monitoring service delivery.

    31 Oct 2019

  • Publication - Policy note

    How can Uganda benefit from China’s economic rise?

    11 Aug 2017 | David Dollar, Akura Mugyenyi, Nicole Ntungire