Daily Monitor
Friday June 04 2021
A health worker administers a Covid vaccine at the Ministry of Health in Kampala on May 28. PHOTO/ABUBAKER LUBOWA
Summary
The Auditor General had in the 2019/2020 financial year report cautioned that if the government does not restrain its hunger for loans, the debt will be unsustainable and future governments will not be able to borrow.
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The government is asking for another loan of $1 billion (Shs3.5 trillion) from the International Monetary Fund (IMF) to mitigate the impact of Covid-19 on the country’s economy, the Finance Ministry confirmed on Wednesday
However, this comes a few months after the Auditor General (AG), Mr John Muwanga, warned that the country’s national debt had escalated and that it was becoming unsustainable.