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Uganda has been receiving IMF loans since 2020 due to prolonged economic shocks triggered by the Covid-19 pandemic and associated lockdown measures. ....
Uganda joins neighbours in seeking $750m in new loans Tuesday April 06 2021 The ongoing construction of the Nairobi Expressway to the Jomo Kenyatta International Airport. Infrastructure development ranks high on projects that lead countries into debt. PHOTO | DENNIS ONSONGO | NMG Summary Tanzania launched a $200 million seven- and 10-year loan facility into syndication in February. Advertisement East African governments are seeking to borrow more than $750 million in syndicated loans to counter the adverse economic impact of the Covid-19 pandemic. Kenya, Uganda, South Sudan, and Tanzania have all been in the market in the past two months seeking either syndicated loans or special drawing rights from the International Monetary Fund (IMF), as they seek to stabilise economies experiencing pandemic-induced shocks. ....