PatrickTumwebaze

Speaking in a meeting organized to discuss the way Uganda borrows and the way it uses its resources, the executive director Ugandan debt network, Patrick Tumwebaze says that citizens need to be engaged in knowing how and why government takes debts since it is the citizens who lift the payment burden. Still Patrick stresses the burden of government taking concessional loans which he says will cause problems to government in payment.

Meanwhile, State Minister for finance, planning and economic development, David Bahati, mentioned that Uganda’s debt interest totalling to USD.4.5Bn is paid with debts having the fast call on the national budget confirming that government has a debt strategy and debt management frame work in place despite not having enough resources to finance requirements of the national budget. He added that with the discovery of minerals, Uganda will cover her own budget in future.

The post Development partners caution government on debt first appeared on Uganda Multimedia News & Information.