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Tag Archives: debt burden

MPs reject proposed budget cuts in the tourism sector

Kampala, Uganda | THE INDEPENDENT | Members of Parliament have rejected the projected budget cuts in the tourism sector, saying it is a key contributor to foreign revenue and a remedy to debt burden. Legislators are dismayed that government is moving to cut the tourism budget from Shs195 billion in 2022/2023 Financial …

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University students protest high debt burden

Kampala, Uganda | THE INDEPENDENT | A group of youth have asked the government to pay attention to its increasing debt burden. The youth spoke to URN on Monday just as the International Monetary Fund (IMF) board was approving another $1billion loan under its Extended Credit Facility arrangement. Under the arrangement, …

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Bank of Uganda warns finance ministry over high debt levels

Kampala, Uganda | THE INDEPENDENT | The Central Bank has challenged the Ministry of Finance, Planning and Economic Development against the current high rates of borrowing, saying they are putting the country and the economy at risk. The national debt burden is currently estimated at UGX 64 trillion as of December …

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