Uganda to curb commercial borrowing to limit debt build-up
Uganda's Minister of Finance Matia Kasaija displays a briefcase carrying National Budget 2024/25 before presenting during a budget speech at Kololo airstrip in Kampala on June 13, 2024. REUTERS
Uganda hopes to limit rising debt by focusing on concessional borrowing and curbing commercial loans next fiscal year, its finance minister said on Thursday, after a credit rating downgrade last month.
The country's public debt has been mounting as the government of President Yoweri Museveni splurges on big infrastructure projects, prompting warnings from its central bank.
