Daily Monitor
Wednesday January 13 2021
Money goes through a money counting machine. In a rare move BOU conducted a conversion of bonds that were due to mature in January 2021. Photo/ File
Summary
Financial stress.
The issuer was trying to avoid a market shock by rolling over huge amounts, with implications of distorting the interest structure but also at same time dealing with huge interest payments, and of course in the grand scheme of things carefully taking a look at the government current fiscal situation,’’ Mr Mr Stephen Kaboyo, the proprietor of Alpha Capital Partners says. says.
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The Bank of Uganda’s move to reschedule Treasury bonds worth more than Shs1 trillion which was due for maturity this month has raised some eyebrows.