{"id":40093,"date":"2022-11-10T17:46:56","date_gmt":"2022-11-10T17:46:56","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion"},"modified":"2022-11-10T19:13:47","modified_gmt":"2022-11-10T19:13:47","slug":"bou-puts-public-debt-at-shs80-trillion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion","title":{"rendered":"BoU puts public debt at Shs80 trillion"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Uganda. <\/strong><\/span>Bank of Uganda (BoU) Deputy Governor Michael Ating-Ego yesterday revealed to legislators on Parliament\u2019s Committee on Finance that Uganda\u2019s public debt now stands at Shs80 trillion.<\/p>\n<p>Mr Ating-Ego was interfacing with the committee after the lawmakers invited him to explain the current double-digit inflation and the deteriorating economic situation in the country.<\/p>\n<p>\u201cOur [total public] debt today is about Shs80 trillion both domestic (Shs33 trillion) and external (Shs47 trillion). But in terms of sustainability, I think we are still sustainable, the only challenge we have is the liquidly indicators, those indicators that you observe in order to assess whether you are able to pay,\u201d Mr Ating-Ego said.<\/p>\n<p>He added: \u201cSo if you look at our debt service to revenue collection, it is very worrying, it is about 30 percent. It means for every shilling you collect as taxes, 30 cents goes to debt service, which means you are crowding out other important expenditures such as social and investment expenditures to service the debt.\u201d<\/p>\n<p>As a means of insulating the country\u2019s economy from sliding into difficult situations that could easily stem from highly accumulated debt, Mr Ating-Ego revealed that his office had told the Ministry of Finance that loans to be secured from commercial banks in the near future need to have a grace period of at least five years.<\/p>\n<p>\u201cBecause if you look at Bank of Uganda cash rates right now, we have a challenge that the debt service in the next two years is quite big,\u201d Mr Ating-Ego said.<\/p>\n<p><b>Public debt<\/b><\/p>\n<p>A public debt is government obligation, particularly those evidenced by securities, to pay certain sums to the holders at some future time.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/uganda\">Uganda<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. Bank of Uganda (BoU) Deputy Governor Michael Ating-Ego yesterday revealed to legislators on Parliament\u2019s Committee on Finance that Uganda\u2019s public debt now stands at Shs80 trillion. Mr Ating-Ego was interfacing with the committee after the lawmakers invited him to explain the current double-digit inflation and the deteriorating economic situation in the country. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":40092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-40093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BoU puts public debt at Shs80 trillion - Uganda<\/title>\n<meta name=\"description\" content=\"Bank of Uganda (BoU) Deputy Governor Michael Ating-Ego yesterday revealed to legislators on Parliament\u2019s Committee on Fi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoU puts public debt at Shs80 trillion\" \/>\n<meta property=\"og:description\" content=\"Bank of Uganda (BoU) Deputy Governor Michael Ating-Ego yesterday revealed to legislators on Parliament\u2019s Committee on Fi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-10T17:46:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-10T19:13:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/11\/postQueueImg_17-636d4d42cebc3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BoU puts public debt at Shs80 trillion\",\"datePublished\":\"2022-11-10T17:46:56+00:00\",\"dateModified\":\"2022-11-10T19:13:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\"},\"wordCount\":294,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/11\/postQueueImg_17-636d4d42cebc3.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/bou-puts-public-debt-at-shs80-trillion\",\"name\":\"BoU puts public debt at Shs80 trillion - 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