Tuesday , March 19 2024
Home / Tag Archives: borrowing

Tag Archives: borrowing

Government, Ugandans warned against borrowing to ‘Impress People’

Kampala, Uganda | THE INDEPENDENT | The government of Uganda and individuals at family levels have been cautioned against borrowing for the sake of impressing others. The cautionary call has been sounded by seasoned Makerere University Professor of Economics, Augustus Nuwagaba amidst concern about the increasing public debate. “It is …

Read More »

How Uganda can cope without borrowing

Kampala, Uganda | THE INDEPENDENT | The government of Uganda has proposed a raft of measures aimed at improving public expenditure next year, but also to reduce reliance on external support, raising questions as to how half of the budget will be financed. The budget process for 2023/24 which climaxes in June …

Read More »

Further borrowing will constrain development efforts: BOU

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …

Read More »

Kenyan president Ruto vows to cut borrowing

Nairobi, Kenya | Xinhua | Kenyan President William Ruto on Thursday pledged to contain large domestic and foreign borrowing by the government within three years to help spur economic growth. Ruto who officially opened the 13th Parliament said the very large government borrowing requirement has undermined the business sector’s contribution to …

Read More »

Banking industry to develop long term export credit facility

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

Read More »

KACITA calls for reduction of central bank rate

Kampala, Uganda | THE INDEPENDENT | Kampala City Trader’s Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate that is used by the Central bank to implement or signal its monetary policy stance. It is …

Read More »

Delay in SGR project good for Uganda, says economist

Kampala, Uganda | THE INDEPENDENT | Uganda acted prudently by going slow on the Standard Gauge Railway (SGR) project which meant delays in borrowing at least USD 2.3 billion or more than Shillings 8trillion, according to experts. This is the estimated cost for only the Malaba-Kampala stretch, but the whole project connecting …

Read More »