Parliament queries why Ministry of Finance has allocated UGX481 bn to BoU for recapitalization; money, that BoU says is not necessary Legislators says this could be a move to siphon funds under the guise of recapitalizing the Central Bank.

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Bank of Uganda, Uganda’s central bank does not need recapitalization in the 2021/2022 financial, according to Deputy Governor Michael Atingi-Ego. He disclosed this while appearing before the Budget Committee of parliament on Wednesday.  He was appearing on the request of the committee to clarify on the UGX 481 billion request in the Budget Framework Paper for the 2021/2022 financial year toward