Uganda’s debt burden soaring at $4.3 billion

By Issa Baluku Asuman

BANK OF UGANDA Headquarters on Kampala Road

The Uganda debt burden is steadily increasing at a rate of 17% per annum according to the experts from the ministry of finance.

In 2006 the debt stood at $1.4 billion (shs3.2 trillion) but in 2010 it had grown to $4.3 billion (shs10 trillion)

Impliedly, if Uganda turned its shs 8 trillion 2011/2012 budget to debt payment, it would still remain indebted to a tune of about 2 trillion shillings. Read more about Uganda’s indebtedness