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Tag Archives: bank of uganda

IMF cuts Uganda’s growth projection

Kampala, Uganda  | THE INDEPENDENT |  The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities.  After assessing the economy, the IMF said Uganda had challenges to …

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DFCU retains interest in former Crane Bank properties – BoU

Kampala, Uganda | THE INDEPENDENT | Dfcu bank remains the owner of the leasehold of the former Crane bank buildings it vacated, Bank of Uganda has said. The buildings, formerly hosting Crane bank branches but now being claimed by Meera Investments Limited, were taken over by Dfcu when it bought Crane …

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Finance Committee approves BoU recapitalization request

Kampala, Uganda | THE INDEPENDENT | The Finance Committee of parliament has approved a request to recapitalize Bank of Uganda with Shillings 481 billion in the 2020/2021 financial year. This is part of the recommendations in the Committee report on the National Budget Framework Paper on votes in the finance …

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Leader of opposition questions BoU continous recapitalization

Kampala, Uganda | THE INDEPENDENT  |  The Leader of Opposition in Parliament Betty Aol Ocan has questioned the continuous need to recapitalize Bank of Uganda saying that it could be a sign of financial indiscipline. The query is carried in her response to the National Budget Framework Paper for the coming …

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Minister Bahati makes U-turn on Petroleum Fund

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Planning David Bahati says the Petroleum Fund has shillings 70 billion. This is contrary to what he told the parliamentary finance committee last week that the fund had been depleted. Appearing before the budget committee on Tuesday, Bahati backtracked, saying …

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Auditor General queries absence of Petroleum Investment Framework

Kampala, Uganda | THE INDEPENDENT  | The Auditor-General John Muwanga has queried the absence of a Petroleum Investment Framework to guide investment of funds under the Petroleum Revenue Investment Reserve in Bank of Uganda. While presenting his audit report for the year ended December 2019 to Speaker of Parliament Rebecca …

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MPs summon Mutebile over UGX 481 billion BoU capitalization

Kampala, Uganda | THE INDEPENDENT  | Parliament’s Finance Committee has summoned the Bank of Uganda Governor Emmanuel Tumusiime Mutebile to explain the continued recapitalization of the institution. This follows a fresh request by the Ministry of Finance to recapitalize the Central Bank with Shillings 481.7 billion Shillings in the coming financial …

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BoU staff expect Kasekende’s contract to be renewed

Kampala, Uganda | THE INDEPENDENT | Several Bank of Uganda staff expect the contract of the Deputy Governor Dr Louis Kasekende to be renewed in the coming days. Dr Kasekende’s contract will expire on 18 January 2020, completing a decade in the same position and making him the longest-serving deputy …

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Bank of Uganda warns against writing on currency

Kampala, Uganda | THE INDEPENDENT  | Bank of Uganda has warned the public against writing on currency notes, highlighting that the practice is illegal and could land them to prison. The warning follows various images circulating on social media with political messages reading “vote Bobi Wine 2021” and “Vote Museveni …

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