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.
