The East African
Tuesday April 06 2021
New Jinja Bridge, commissioned in October 2018, is a cable-stayed bridge across the Victoria Nile and one of the mega infrastructure improvement projects. PHOTO | FILE
Summary
Concerns over Uganda’s surging debt levels are likely to dominate budget debates that commence this month following a report by the Auditor General’s Office that raised alarm about rapid growth in the country’s debt portfolio and limited ability to service its debt obligations.
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Uganda appears muted on preparations for repayment of a Ush1.8 trillion ($488.7 million) loan obtained from the International Monetary Fund (IMF) last year to counter negative economic effects caused by the coronavirus pandemic as Parliament warms up for budget debate.