The Big Story

Gov’t of Uganda seeks Parliament nod to borrow UGX3.5 trillion (USD 935 million) in one day

by Muhereza Kyamutetera
Parliament of Uganda in Kampala. The House has approved a loan meant to finance infrastructure and development needs of the budget
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The Finance State Minister, Hon. Henry Musasizi on 1st November 2022 asked Members of Parliament to approve up to UGX3.5 trillion in new borrowing to finance Uganda’s 2022/23 UGX48.1 trillion budget, which he said was facing significant shortfalls. The first loan request which is up to USD464 translating to about UGX1.7 trillion is to be sourced from the Standard Chartered Bank. In documen

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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.