By Juliet Hildah Namulundu.
The International Monetary Fund (IMF) Managing Director (MD) Christine Lagarde arrived in the country yesterday ahead of her four-day visit to Uganda that ends this Friday the 27th. During her visit, Lagarde is expected to engage in several talks with the President, Yoweri Museveni, policy makers, business leaders, legislators, women leaders and representatives of civil society. On Friday, she will deliver a public lecture at the Kampala Serena Hotel Conference Hall.
Lagarde will address several important issues including Uganda’s growth strategy, poverty, equality and the challenge of having to carefully balance spending on social areas such as health and education which issues are also faced by other countries in the region and globally.
Talking to journalists about Uganda’s rising debt levels, Lagarde said basing on the fiscal framework that the government outlined in December 2016, the IMF’s assessment is that Uganda remains at low risk of debt distress. This means that Uganda’s debt is projected to remain at manageable levels, even in case of shocks.
“Over the next few years, Uganda’s debt-to-GDP ratio will continue to rise as the government carries out large infrastructure investment projects. But once these projects are completed and contribute to growth, exports and fiscal revenues, the debt level is projected to decline again,
