Uganda’s Minister of Finance, Planning and Economic Development, Matia Kasaija (pictured) has revealed that Uganda has already applied for US$200 million (about Shs761.7bn) loan from the International Monetary Fund (IMF) and World Bank as a result of low revenues collected. The Minister made the remarks during Thursday’s plenary sitting. “Our
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Members of Parliament have urged the executive to declare a state of emergency in the face of the current COVID-19 crisis. This call followed presentation of four statutory instruments that legalise the presidential directives on actions against COVID-19 pandemic. In a sitting of Parliament on Thursday, 02 April 2020, Bugiri
Read MoreEmirates SkyCargo will continue to operate cargo flights to Entebbe International Airport thereby facilitating the movement of goods during this uncertain time. Emirates will operate two weekly cargo flights every Friday and Sunday and these will touch down at the airport at 14:00hrs and depart at 16:00hrs.The airline has deployed
Read MoreShilling Stabilizes As Demand Remains Subdued Amid Tight Liquidity Conditions
After a string of losses in last couple of weeks, the local currency took a breather. The shilling stabilized, trading in a narrow range of 3785/3795 . Demand remained subdued amid tight liquidity conditions. As part of its open market operations, the Central Bank was in the market mopping up
Read MoreRwanda's President Paul Kagame The Executive Board of the International Monetary Fund (IMF) Thursday approved the disbursement of US$109.4 million (Shs416.29bn) to be drawn under the Rapid Credit Facility (RCF). This will serve to meet Rwanda’s urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic. The
Read MoreThe Uganda Communication Commission (UCC) has temporarily lifted the ban on the use of public address systems as part of fight against the spread of Coronovirus in Uganda. UCC announced the shift in regulations through a press statement noting that the decision to lift the ban follows the outbreak of
Read MorePrime Minister Ruhakana Rugunda (pictured) has told Parliament that utility companies will still charge for services, except that service providers should exercise restraint in and consider grace periods for defaulters. Rugunda was clarifying on several questions raised by MPs and said utility companies should continue to be able to provide
Read MorePresident Yoweri Museveni will on Friday address the nation and give an update on the country's response to COVID-19. It will be Museveni's third address in a week and sixth since the coronavirus outbreak. The address will happen at 8pm. On Monday, Museveni announced a total lock down, banning the
Read MoreThe Bank of Uganda is expected to issue the Monetary Policy Statement for the month of April tomorrow 3rd 2020. In February 2020, the Central Bank kept the Central Bank Rate (CBR), a key lending rate for commercial banks, unchanged at 9%. According to Stephen Kaboyo (pictured), an analyst and
Read MoreParliament has stopped the distribution of relief food that was set to start on Saturday, 4, April, to 1.5m vulnerable people in Wakiso and Kampala. Yesterday Prime Minister Ruhakana Rugunda announced that the relief food would be distributed at LC1 level with each person getting 6kgs of maize flour, 3kgs
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