Block 15

Broke BoU To Borrow USD500M For Recapitalization

The President of Uganda Gen. Yoweri Kaguta Museveni has endorsed a request by the Ministry of Finance to borrow up to USD500M to recapitalize Bank of Uganda (BoU) and Uganda Development Bank (UDB), following the effects of Coronavirus (COVID-19) on Uganda’s economy. The money, according to credible sources, will come from the International Monetary Fund…

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