Tag Archives: public debt

The group wants a clear government plan for putting money in people’s pockets Kampala, Uganda | JULIUS BUSINGE | Civil Society Organizations under their umbrella, the Civil Society Budget Advocacy Group (CSBAG) are concerned about the insufficient budget allocation to address domestic arrears arguing that the move could stifle private …

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 …

Nairobi, Kenya | Xinhua | Kenya has moved to diversify the currency composition of its external debt to curb its faster expansion as the local currency, the shilling, fast loses ground against major international currencies, according to the National Treasury. The shilling has declined nearly 8 percent against the dollar year-to-date, …

Kenya case show how a country gets there and what that means Kenya’s newly elected president, William Ruto, has earned more legal space to borrow for his grandiose economic plan after parliament recently raised the country’s public debt ceiling to KSh10 trillion (US$100 billion). The new administration says the country …

Kampala, Uganda | THE INDEPENDENT | Legislators have committed to budget for a contingency fund in the next budget cycle after it was left out in the Financial Year 2022/2023 budget. The commitment came on Wednesday, September 21, 2022, during plenary when the Vice-Chairperson of the Budget Committee, Ignatius Wamakuyu, reported that …

  The debt service to tax revenue ratio has increased to 27.1% in Oct. 2021, up from 24.4% in the same period in 2020 Kampala, Uganda | ISAAC KHISA | Coronavirus pandemic induced borrowing has seen Uganda’s public debt raise 3.1% to Shs 73.78trillion compared to June 2021, says the …

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 …

Kampala, Uganda | THE INDEPENDENT | Auditor General John Muwanga says that Uganda’s high cost of borrowing may deny future generations the opportunity to sustainably borrow. This is carried in his findings on the public debt in the financial year 2019/2020 audit report that he presented to Speaker Rebecca Kadaga on …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has warned that the rate at which Uganda’s public debt is increasing is a cause for worry as the country now hits 53 trillion Shillings in debt. BoU Governor Emmanuel Tumusiime Mutebile issued the warning on Thursday while appearing before …

Economists suggest that the government needs to balance investment in development and productive sectors Kampala, Uganda | ISAAC KHISA | Uganda government plans to borrow Shs8.73 trillion from local and international lenders to fund the bloated Shs 45.4trillion budget amidst the coronavirus pandemic threat. According to the Ministry of Finance …