Uganda’s Growing Debt Burden Worries Museveni.
President Museveni has expressed concern over Uganda’s growing public debt, saying the continued servicing of loans worth billions of dollars, yet the economy can be self-sufficient is “wastage of national resources.”
The president’s concerns are contained in a confidential letter to Finance Minister Matia Kasaija. Museveni earlier this year publicly blasted the media for ‘exaggerating’ the public debt, saying it is manageable.
Uganda’s Public debt stock, which comprises both domestic and external debt, in 2018 hit the US$ 10.7bn mark, which is the equivalent of Shs 41.326.1trillion.