For years, the West, including financial institutions like the International Monetary Fund and the World Bank have been accused of making policies that further impoverish nations, exacerbate inequality, and keep the borrowing nations heavily indebted.
Bank of Uganda’s Executive Director for Research, Dr Adam Mugume says if the 2021/2022 budget proposals are passed, the total outstanding debt of the country will rise to Shs86.9 trillion, which will be 52% of the GDP.
COVID-19 has dealt a major blow to the world’s poorest countries, causing a recession that could push more than 100 million people into extreme poverty. Earlier this year, the World Bank and the IMF urged the group of the richest countries, the G20, to establish the Debt Service Suspension Initiative, or DSSI, as the COVID-19 pandemic started to hit poorer countries worldwide.
When the tax measures were announced in June, business community organisations at the time argued that the government should have instead waived the taxes, because deferring them is only postponing the burden to a time when it will have accumulated.
Projects being implemented under the PPP Act 2015 include Kampala – Entebbe Express Way, Bujagali Power Station, Kampala Solid Waste Management Project, Nakawa – Naguru Housing Project and the Uganda People’s Defense Force Housing Accommodation amongst others.
According to the CSO's the closure of Rwanda border at Gatuna border contravene the East African Community and common market protocol that calls for free movement of people, goods and services among member states.
