Browsing: Uganda’s debt

The International Monetary Fund (IMF) which has so far lent about $491.5 million to Uganda said that it is a misconception to assume that Uganda’s debt is unsustainable.

Uganda’s public debt levels are within a manageable threshold in the long term, noted Izabela Karpowicz the IMF Resident Representative for Uganda.

“We used to rate Uganda at low risk and now it will be moving to medium risk and this is due to Covid-19. It is not correct to say the debt is not sustainable over the medium and long term.” Ms Karpowicz said on the sidelines of a policy dialogue on Uganda’s economy, which was organised by the Civil Society Budget Advocacy Group (CSBAG) and the Advocates Coalition for Development and Environment (ACODE).

She noted that how resources that are being borrowed now and in the future will be deployed productively should be what Ugandans should be worried about and …