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Tag Archives: Michael Atingi-Ego

Central bank maintains benchmark rate at 10 percent

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU), Uganda’s central bank, on Monday left the Central Bank Rate (CBR) at 10 percent for the second time, saying it is still effective to control the rise in inflation, bring stability in lending rate, exchange rate and drive economic growth. …

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Gov’t starts payment of Shs2.5 trillion matured securities

Kampala, Uganda | THE INDEPENDENT | The government is to pay Shs2.5 trillion to the Bank of Uganda (BoU) in matured securities after its repayment was disrupted by the advent of COVID-19. The money is a domestic loan acquired by the government through the Bank of Uganda as an intermediary for individuals …

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Further borrowing will constrain development efforts: BOU

Kampala, Uganda | THE INDEPENDENT | The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego has told parliament that the country’s public debt has now hit 80 trillion Shillings. He says that Uganda’s debt servicing in the current financial year 2022/2023, is at a ratio of tax revenue estimated at …

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Demand for credit slows with raising interest rates

Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …

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Banking industry to develop long term export credit facility

Kampala, Uganda | THE INDEPENDENT | The Ugandan borrowing public will continue enduring a high cost of credit for as long as the current inflation and foreign exchange rates continue skyrocketing, according to the Bank of Uganda. This is in response to calls by the private sector, especially the manufacturers, that …

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