Uganda’s muted response on repaying $488m IMF loan
New Jinja Bridge, commissioned in October 2018, is a cable-stayed bridge across the Victoria Nile and one of the mega infrastructure improvement projects. PHOTO | FILE
Uganda appears muted on preparations for repayment of a Ush1.8 trillion ($488.7 million) loan obtained from the International Monetary Fund (IMF) last year to counter negative economic effects caused by the coronavirus pandemic as Parliament warms up for budget debate.
In a time of growing taxpayer agony, the loan facility carries a five-year repayment period and is interest-free, according to IMF records.
