Tag Archives: BOU

What international money lenders fear most about 2021 Kampala, Uganda | THE INDEPENDENT | Increased government spending and borrowing as President Yoweri Museveni seeks re-election could destabilise the economy in FY2020/21. That is the view of the latest report by the international credit rating agency, Fitch. It is backed by …

Kampala, Uganda | THE INDEPENDENT | Sudhir Ruparelia and Meera Investments Limited’s lawyers have responded to a statement from Bank of Uganda that gave reasons why they intend to go to the Supreme Court after they lost a recent appeal. Uganda’s central bank is facing huge costs after losing court …

Experts say there are lessons to learn from this case and that the central bank should not be hanged for losing it Kampala, Uganda |  JULIUS BUSINGE | Uganda’s central bank is facing huge costs after losing court cases in the Commercial and Court of Appeal over Sudhir Ruparelia, Meera …

  Kampala, Uganda | THE INDEPENDENT | The Court of Appeal on Tuesday dismissed an appeal and upheld the decision of the High Court in a suit filed by Bank of Uganda, on behalf of Crane Bank Ltd (in receivership), against Sudhir Ruparelia and Meera Investments Ltd. In dismissing the appeal, …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has warned that the rate at which Uganda’s public debt is increasing is a cause for worry as the country now hits 53 trillion Shillings in debt. BoU Governor Emmanuel Tumusiime Mutebile issued the warning on Thursday while appearing before …

Kampala, Uganda |  THE INDEPENDENT |  Ugandans could see the value of their assets in the real estate industry, including land and houses decline as a result of the Coronavirus (COVID-19) disruption, Bank of Uganda has warned. This decline, the central bank says could be in double-digits meaning it could go …

Kampala, Uganda | THE INDEPENDENT | Government has revised its proposal to borrow money to mitigate the effects of coronavirus by up to 1.3 trillion shillings. On April 2, the government presented a motion to borrow up to 1.7 trillion shillings to cushion the economy from the effects of COVID-19. …

  Why government must support the banking sector to keep credit flowing to stimulate economic growth COMMENT | SIMON MUTUNGI | Following the 2008 Global Financial Crisis, many banks collapsed worldwide while others had to plow through public funds in the form of government bailouts in order to survive. To …

COMMENT | RICHARD OMONGOLE | Uganda’s post-Coronavirus economic failings are going to come from the IMF/World Bank supervised theoretical economists at Bank of Uganda. You borrow $491.5 million, then a mere $151m goes to budget support and Uganda Development Bank (UDB). A whole $340m is retained by Bank of Uganda …

Kampala, Uganda |  JULIUS BUSINGE  | In a bid to give some relief to its clients, PostBank has announced that it will reschedule loan repayments for customers whose lives and businesses have been impacted by COVID-19 pandemic, it announced a few days ago. This move comes as Bank of Uganda (BoU) continues …