IMF: Uganda has requested for Ugx 3 trillion loan to bolster its finances- Video

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‘‘The IMF is in discussions with Uganda on a three-year financial arrangement to help continue the fight against the pandemic and build forward to more inclusive growth. The final amount will depend on the estimated balance of payment needs and the strength of policy reforms.’’ IMF spokesperson Gerry Rice said on Thursday

Last year, Uganda borrowed $491.5 million roughly ugx. 1.7 trillion Under the Rapid Credit Facility, a program that provides access to rapid and concessional financial assistance to low-income countries facing urgent balance of payments needs.

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Uganda’s total public debt hit a record ugx. 65.82 trillion [vs country’s total budget of 45 trillion] as of December 2020, up from ugx. 49 trillion in 2019

read: Only oil money can rescue Uganda from the looming debt crisis –BoU official

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