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Uganda’s National Debt Surged 21% to Offset the Downturn Brought on by COVID-19

The Ugandan government has significantly increased its borrowing in a bid to help mitigate the financial impact of the ongoing economic crisis brought on by the COVID-19 pandemic. The Central Bank on Tuesday said that in the period from June 2019 to June 2020, borrowing increase by 21%.

Most of those new loans came from the IMF, Trade and Development Bank, and Stanbic Bank.

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