Government of Uganda is to borrow up to USD1.51 billion (UGX5.7 trillion) from various multilateral lenders, once Parliament approves the motions tabled before it. According to a parliament brief to the Finance Committee that CEO East Africa has seen, this includes the USD491.5 million already approved by the IMF Executive Board for Uganda and is now awaiting Parliament’s ratification. In fact, according to an April 2nd 2020 motion to Parliament, government had initially planned to borrow USD 250 million from the IMF but following the May 6th 2020 decision by the IMF, the Ministry of Finance withdrew the first USD250…
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