Kampala, Uganda | THE INDEPENDENT | The increasing debt burden facing the country continues to bother Members of Parliament on the Budget Committee who have put the Ministry of Finance, Planning and Economic Development to task on how to manage it. According to the State Minister for Finance, Hon. Henry Musasizi, …
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Kampala, Uganda | THE INDEPENDENT | Members of Parliament have rejected the projected budget cuts in the tourism sector, saying it is a key contributor to foreign revenue and a remedy to debt burden. Legislators are dismayed that government is moving to cut the tourism budget from Shs195 billion in 2022/2023 Financial …
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Washington, U.S. | Xinhua | The global economy is “dangerously close” to a recession, as inflation remains elevated, interest rates rise, and growing debt burden hits the developing world, World Bank President David Malpass said Thursday. “We’ve lowered our 2023 growth forecast from 3 percent to 1.9 percent for the global …
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Kampala, Uganda | THE INDEPENDENT | A group of youth have asked the government to pay attention to its increasing debt burden. The youth spoke to URN on Monday just as the International Monetary Fund (IMF) board was approving another $1billion loan under its Extended Credit Facility arrangement. Under the arrangement, …
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Kampala, Uganda | THE INDEPENDENT | The Central Bank has challenged the Ministry of Finance, Planning and Economic Development against the current high rates of borrowing, saying they are putting the country and the economy at risk. The national debt burden is currently estimated at UGX 64 trillion as of December …
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Debt repayment and payment of interest should be channeled from tax revenues Kampala, Uganda | THE INDEPENDENT | The government remains adamant about the debt burden on the country despite now having exceeded the dreaded level of 50% of the value of the economy (GDP), according to the latest records. The …
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New York, US | XINHUA | Developing countries need external support to ease inflated debt burden caused by the COVID-19 pandemic so as to maintain social services and secure global economic recovery, according to experts and relevant institutions. RECOVERY TAKES TIME Economic output picked up swiftly following the easing of …
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