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Bank of Uganda has acknowledged a more positive Economic growth outlook in Uganda than it was forecasted in the February monetary policy committee meeting. While releasing April monetary police statement today, the governor bank of Uganda Prof. Tumusiime Mutebire said that Uganda’s economic growth is projected to grow by 6.5% in the next three years. He said […]
The Auditor General has started carrying out an in-depth audit over the bankruptcy of defunct banks taken over bank of uganda. This came after the parliamentary committee on commissions, statutory Authorities and state enterprises told the Auditor general to interest its self in carrying out a special audit in the processes of defunct bank take […]
The Bank of Uganda officials led by the deputy governor bank of Uganda Louis Kasekende were grilled before the parliamentary committee on commissions, statutory Authorities and state enterprises over hiring external lawyers to battle court cases which are against central bank. The committee chaired by the MP for Bugweri county Abdul Katuntu had summoned the […]
Ugandans have been asked to prepare for the worst in monetary terms as the bank of Uganda is trying to control the impacts of exorbitant government spending in the past elections. According to Musa Lwanga a researcher at Economic policy research centre, there was a lot of domestic borrowing by government and subsequent spending which prompted […]
Members of parliament on the parliamentary committee on finance have grilled Bank of Uganda and the ministry of finance officials over missing accountability of 200 billion shillings given to bank of Uganda for recapitalization in the ending financial year. This was discovered by members of parliament while meeting the minister of state for planning David Bahati […]
Parliament has passed the Public Finance Management (Amendment), Bill 2015 to borrow 10% from Bank of Uganda without parliament approval. The passed bill allows government to bypass parliament to get money from Bank of Uganda through the Minister of finance and later inform parliament. Members of Parliament amended clause 7 under section 36 2(e) of the […]
The Central Bank raised the lending rate by 1% moving it to now 17% as a way to control the rising inflation in the country’s economy. Announcing the new CBR yesterday, the central bank governor, Prof, Emmanuel Tumusiime Mutebire said, the bank’s forecasts based on the prevailing domestic and external economic conditions and outlook indicates that […]
The parliamentary committee on public accounts has directed the deputy secretary to treasury Keith Muhakanizi to bring evidence explaining circumstances under which 2.5 trillion shillings was drawn from the national reserves in FY2009/10 without the approval of Parliament as required by the law. MPS on the money was withdrawn illegally from the reserves as it […]
Uganda Revenue Authority says it is satisfied with the petroleum bill in its current form but still has issues with the public finance bill. The Commissioner General Allen Kagina says they initially had issues with both bills but after meeting the ministers of finance and energy some issues were cleared with only a few others […]
Members of Parliament are planning embark on the process of amending the constitution to make access to health a human right. Members of parliament under their umbrella body the Network for African Women Ministers and Parliamentarians-Uganda chapter say that the right to health is not well stipulated in the constitution of Uganda which may be […]