Our Parliament 04: National Debt Update

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National Debt Update

In the written request by the Ministry of Finance, Planning and Economic Development to Parliament to pass a resolution authorizing the government to borrow 482 million US dollars or 1.2 trillion shillings, from the Export Import Bank of China, to build the Isimba Dam, the Finance Minister mentioned that this loan once approved will increase the country’s debt currently worth 5.7 Billion US Dollars or at least 14.25 trillion shillings. Despite reassurances from the Minister that Uganda can pay back its debts it is worth asking; is the cost of development can be sustained?

National Debt Update

 

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