Stay updated with breaking news from Patrick Ocailap. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
KAMPALA, Uganda (AP) — Ugandan President Yoweri Museveni has ordered the suspension of a multimillion-dollar fund backed by European nations that supports the work of local groups focusing on...
Preliminary findings by a UN Development Fund study show that 62 percent of all surveyed users were opposed to the mobile money tax.
Daily Monitor Friday June 04 2021 A health worker administers a Covid vaccine at the Ministry of Health in Kampala on May 28. PHOTO/ABUBAKER LUBOWA Summary The Auditor General had in the 2019/2020 financial year report cautioned that if the government does not restrain its hunger for loans, the debt will be unsustainable and future governments will not be able to borrow. Advertisement The government is asking for another loan of $1 billion (Shs3.5 trillion) from the International Monetary Fund (IMF) to mitigate the impact of Covid-19 on the country’s economy, the Finance Ministry confir...
The loan would be for general budget support and would be disbursed over three fiscal years, he said. The country's next fiscal year starts in July.
Uganda says negotiating with IMF for $900 mln budget support loan May 5, 2021 KAMPALA, May 5 (Reuters) – Uganda has applied to the International Monetary Fund (IMF) for a $900 million loan to help bolster its shaky finances after the COVID-19 pandemic hammered its economy, a top finance ministry official said on Wednesday. “We have applied, negotiations are ongoing,” Deputy Treasury Secretary Patrick Ocailap told Reuters. “We have not yet concluded negotiations on the loan but we hope it will be approved soon.” The loan would be for general budget support and would be...