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Tag Archives: bank of uganda

Central Bank calls for better planning, accountability for emergencies

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor Bank of Uganda, Michael Atingi-Ego has called for better planning for emergencies so that pandemics can have minimal impact. Atingi-Ego noted the need for reduction in spending on non-priority areas, postponement of capital intensive and import-dependent projects to help improve external balance …

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Uganda’s public debt rises to UGX 73 Trillion

Kampala, Uganda | THE INDEPENDENT | Uganda’s public debt has risen to 73.8 trillion shillings (about 20.8 billion US dollars), according to provisional figures at the Bank of Uganda up to the month of October 2021. By the end of June 2021, the Ministry of Finance, Planning, and Economic Development reported …

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Demand for credit grows despite increase in interest rates

Kampala, Uganda | THE INDEPENDENT | Commercial banks approved a total of 2.8 trillion Shillings in loan amounts in the three months ending October 2021, which indicates growth from the 2.2 trillion Shillings approved in the quarter that ended July. Similarly, the value of loan applications rose to 4.9 trillion Shillings …

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Uganda records positive balance of trade, as gold receipts hurt

Kampala, Uganda | THE INDEPENDENT | Uganda’s export and import trade sector recorded declines in both volumes and value in the last six months of the year ending October 2021, as economic activity slowed down compared to the previous six months. Uganda had previously recorded a deficit in trade in both …

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Agricultural credit facility demand outstrips available funds

Kampala, Uganda | THE INDEPENDENT | Ugandans in the agriculture sector have so far received a total of 620 billion Shillings under the Agricultural Credit Facility, a fund managed by the Bank of Uganda, according to a report for the period June 2020/2021. This was an increase by half in the amount …

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African bankers move to orient industry towards climate resilience

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has joined the Uganda Development Bank in supporting climate-friendly economic development through the financial sector. The Central bank is now developing guidelines that will help other financial institutions go beyond their own administrative environment-related policies, to ensure that the services they …

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BoU permits extension of repayment credit relief to education, hospitality sectors

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has issued an exceptional permission allowing Supervised Financial Institutions-SFIs, at their discretion, to offer a repayment credit relief to their creditor in the education and hospitality sectors. The said SFIs include commercial banks, credit institutions, and microfinance deposit-taking institutions. Previously, authorities at …

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