HomeNews

News

Bank of Uganda denies printing money for NRM

Share Bookmark Print Email
Email this article to a friend
Submit Cancel
Rating
Bank of Uganda headquarters in Kampala. In a statement released on Thursday the bank dismissed allegations that it had printed money to fund the campaigns for the 2011 elections for the ruling National Resistance Movement party (NRM) — a situation that some opposition politicians say is responsible for the current inflationary pressures. . Photo/FILE

Bank of Uganda headquarters in Kampala. In a statement released on Thursday the bank dismissed allegations that it had printed money to fund the campaigns for the 2011 elections for the ruling National Resistance Movement party (NRM) — a situation that some opposition politicians say is responsible for the current inflationary pressures. . Photo/FILE 

By FARIDAH KULABAKO  (email the author)
Email this article to a friend
Submit Cancel


Posted  Sunday, January 22  2012 at  13:58

The Bank said the amount of money in circulation as of November 30, 2011 stood at $847 million and only $159, 983 of that was old currency.

At the end of April 2010, just a month before the issuance of the new currency in May, currency in circulation stood at $555 million, all of which was old currency.

The central bank has been criticised for being tough on businesses through its current tight monetary policy.

« Previous Page 1 | 2

Add a comment (0 comments so far)

You need to login first to submit a comment.

.

IN PICTURES: Congo clashes

In a hand-out photograph released by the African Union-United Nations Information Support Team May 2, 2012 outgoing African Union Mission in Somalia (AMISOM) force commander Major General Fred Mugisha (left) prepares to hand over command to his successor, Ugandan Lt. General Andrew Gutti (right) at a ceremony at the mission's headquarters in the Somali capital, Mogadishu. Mugisha had commanded the AU force since early August 2011. Photo/AFP

AMISOM handover

Malawi's late president Bingu wa Mutharika's supporter wears a "Bingu rest in peace" tee-shirt as he stands in front of the Mpumulo wa Bata Mausoleum during his funeral at his Ndata farm residence in the district of Thyolo, southern Malawi, on April 23, 2012. Photo/AFP/Amos Gumulira

Final send off for Mutharika

Sudanese carry an Armed Forces officer as they gather outside the Defence Ministry in the capital Khartoum on April 20, 2012 to celebrate retaking the oil town of Heglig from South Sudanese forces. Border clashes between Sudan and South Sudan escalated last week with waves of air strikes hitting the South, and Juba seizing the north's Heglig oil hub on April 10. PHOTO/AFP/ASHRAF SHAZLY

Sudan celebrates retaking Heglig