Parliament in June 2020 discussed and forwarded up to 10 loan requests worth UGX2.5 trillion for consideration to the National Economy committee in the wake of the Coronavirus (COVID-19).The 2.5 trillion or US$674 million comes just a month after Parliament approved 2.9 trillion shillings to mitigate the effects of COVID-19. According to documents seen by Uganda Radio Network -URN, the 10 loan requests were introduced by the Ministry of Finance to Parliament in the month of June alone. The requests were made as follows; on June 17th, a loan request of UGX628 Billion from the International Development Association (IDA) of…
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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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Today, 19th May 2019, Rt Hon Rebecca Alitwala Kadaga, completes three (3) years since she was elected as Speaker for the 10th Parliament. Kadaga, who is serving her second term,…
