Tag Archives: debt

Kampala, Uganda | THE INDEPENDENT | Ghana’s December announcement that it was suspending debt payments to selected creditors heightened the debate over the sustainability and risk levels of African debts. The announcement took many by surprise, that the economy was so bad it needed such drastic measures. Lest we forget, and …

Kampala, Uganda | THE INDEPENDENT | Uganda’s Public debt is set to increase from the current 48.4 percent to 53.1 percent in the financial year 2023, according to the estimated budget for the financial year 2023/24 released by the Ministry of Finance. For a debt to be sustainable, particularly for developing …

How government’s recent borrowing and spending binge has put us on the highway to Ghana THE LAST WORD | Andrew M. Mwenda | Ghana is in a serious economic crisis. In November, its inflation rate was 50.3%. On December 19, it all but declared bankruptcy. In a press statement, its government announced …

Kampala, Uganda | THE INDEPENDENT | The Archbishop of the Church of Uganda, the Most Rev. Stephen Kaziimba Mugalu, has said that the Church House debt now stands at 15 billion Shillings. Kaziimba made the report while delivering his Christmas message at Namirembe. ‘We launched a campaign and this campaign has …

Fort Portal, Uganda | THE INDEPENDENT | The official vehicle of the Fort Portal city mayor has been impounded by court bailiffs over a debt amounting to 37 million Shillings. The impounded vehicle is an Isuzu double cabin registration number LG 0009 116, which the City Mayor, Edson Asaba Ruyonga has been …

Kampala, Uganda | THE INDEPENDENT | The Minister of Works and Transport, Gen. Edward Katumba Wamala, has told Parliament that road works across the country have been constrained by a Shs 585 billion debt to contractors. “Yesterday [16 November], the Uganda National Roads Authority told the Committee on Commissions, Statutory Authorities and …

New York, U.S. | Xinhua | The U.S. dollar’s rise compounds excruciating problems of debt sustainability for scores of low- and middle-income countries, propelling them to diversify reserve currencies, reported Foreign Affairs in mid-October. The dollar “is everyone’s problem, to paraphrase an aphorism from John Connally, the former U.S. Treasury secretary,” …

Nairobi, Kenya | THE INDEPENDENT | The International Monetary Fund, the World Bank and national lenders like the US, China and Japan are yet to agree on the modalities of debt relief for poor countries, as eligible ones remain reluctant to apply. A few countries have been processing their requests …

They want government to create centralized data system on debt | THE INDEPENDENT | Uganda government should enhance transparency during the acquisition of loans so as to improve accountability for the acquired loans according to civil society organizations. Jane Nalunga, the executive director SEATINI Uganda, Patrick Tumwebaze, the executive director, …

2nd African conference held on debt accountability mechanism Kampala, Uganda  | IAN KATUSIIME | Fears about growing debt in African countries led to the hosting of the second African conference on Debt and Development that happened simultaneously in five African countries. Uganda Debt Network (UDN), a national advocacy organisation on …