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Tag Archives: debt

Church House debt down to UGX 15 Billion: Archbishop Kaziimba

Kampala, Uganda | THE INDEPENDENT | The Archbishop of the Church of Uganda, the Most Rev. Stephen Kaziimba Mugalu, has said that the Church House debt now stands at 15 billion Shillings. Kaziimba made the report while delivering his Christmas message at Namirembe. ‘We launched a campaign and this campaign has …

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Fort Portal city mayor’s vehicle impounded over debt

Fort Portal, Uganda | THE INDEPENDENT | The official vehicle of the Fort Portal city mayor has been impounded by court bailiffs over a debt amounting to 37 million Shillings. The impounded vehicle is an Isuzu double cabin registration number LG 0009 116, which the City Mayor, Edson Asaba Ruyonga has been …

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Strong U.S. dollar causes serious problems to low-, middle-income countries: Foreign Affairs

New York, U.S. | Xinhua | The U.S. dollar’s rise compounds excruciating problems of debt sustainability for scores of low- and middle-income countries, propelling them to diversify reserve currencies, reported Foreign Affairs in mid-October. The dollar “is everyone’s problem, to paraphrase an aphorism from John Connally, the former U.S. Treasury secretary,” …

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Public debt: CSOs urges on transparency, accountability

They want government to create centralized data system on debt | THE INDEPENDENT | Uganda government should enhance transparency during the acquisition of loans so as to improve accountability for the acquired loans according to civil society organizations. Jane Nalunga, the executive director SEATINI Uganda, Patrick Tumwebaze, the executive director, …

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Uganda warned on endless borrowing from China

2nd African conference held on debt accountability mechanism Kampala, Uganda  | IAN KATUSIIME | Fears about growing debt in African countries led to the hosting of the second African conference on Debt and Development that happened simultaneously in five African countries. Uganda Debt Network (UDN), a national advocacy organisation on …

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Delayed payments by gov’t push away contractors: Experts

Kampala, Uganda | THE INDEPENDENT | Experts have asked the government to compile a ‘Domestic Arrears Register’ to improve accountability in debt management. This according to experts would also help the public and suppliers to track the unpaid government financial obligations. In February, the Ministry of Finance, Planning, and Economic Development reported …

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Government concealing debt figures: Experts

Kampala, Uganda | THE INDEPENDENT | Experts have faulted the government for using statistics that do not give the real picture of the state of affairs to define the performance of the economy. An example is the Debt-to-GDP ratio that the government uses to determine the safety and strength of the …

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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 …

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