Uganda buys far more from foreign countries than it sells abroad, creating a massive $4.6 billion trade gap. Because international sellers only accept US dollars, local traders are constantly scrambling to buy greenbacks, driving the dollar’s value up and shilling down.
"It is very sad to learn of the death of our brother Hon. Charles Matovu, former Member of Parliament for Busiro South, who passed on yesterday. Hon. Matovu represented his people with vigor and utmost dedication in the 11th Parliament. He was a member of the Parliamentary football team, where his tremendous contribution led us to dominate the East African Parliamentary games. My condolences go out to his family, the people of Busiro South, and the country at large. May he rest in eternal peace., Tayebwa said.
The directive aims to protect consumers from predatory lending practices and ensure that borrowing remains accessible and fair. By establishing a clear interest rate cap, the government seeks to foster a more equitable and fair financial environment for individuals seeking loans.
The Uganda-PIM system was initiated in 2016 with the main aim of producing approved projects that can be held for funding in integrated banks of projects such as World Bank projects.
The Ministry of Finance, Planning, and Economic Development noted that the 2nd quarter release is in line with their continued efforts of fiscal consolidation through coordinated fiscal and monetary policy and also funding the ten-fold growth strategy.