{"id":42942,"date":"2023-01-10T16:20:26","date_gmt":"2023-01-10T16:20:26","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities"},"modified":"2023-01-10T17:27:47","modified_gmt":"2023-01-10T17:27:47","slug":"govt-owes-central-bank-shs2-5-trillion-matured-securities","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities","title":{"rendered":"Govt owes Central Bank Shs2.5 trillion matured securities"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Government owes Bank of Uganda (BoU) Shs2.5 trillion in form of matured securities, Parliament has learnt.<\/p>\n

\u201cAt the end of 2021\/2022, there was a Shs2.5 trillion that was outstanding on account of non-reimbursement to Bank of Uganda for the matured securities,\u201d BoU Deputy Governor Micheal Atingi-Ego told Parliament on Tuesday.<\/p>\n

According to Mr Atingi-Ego, Uganda\u2019s central bank had agreed with government that the money is repaid within two financial years thus the Shs1.25 trillion reflected in the Budget Framework Paper for the coming Financial Year 2023\/2024.<\/p>\n

Mr Atingi-Ego\u2019s revelation followed an inquiry from the Parliament Finance Committee chairperson Kefa Kiwanuka (Kiboga County) who questioned \u201can unclearly described Shs1.25 trillion domestic debt payment indicated in the budget framework paper.\u201d<\/p>\n

\u201cBecause of the Covid-19 impact, government could not raise sufficient revenue to pay that amount,\u201d Mr Atingi-Ego explained before Parliament\u2019s Finance Committee where he appeared in-person to submit on the country\u2019s economic performance and outlook.<\/p>\n

However, the BoU chief highlighted that it was not true that government took any loan from BoU but there were initial plans to take an advance in FY2021\/2022 as per the Public Finance Management Act (PFMA) provision of accessing 10 per cent of revenue. This did not materialise.<\/p>\n

\u201cWhat we are aware of, is when the government securities that have been issued mature, BoU immediately redeems those securities and then makes a claim and waits for a reimbursement from government,\u201d Mr Atingi-Ego stated.<\/p>\n

As the government continues to borrow heavily to plug revenue shortfalls, the country\u2019s public debt stock hit Shs80 trillion in November 2022, with a constrained resource envelop amid growing spending appetite, something that raises serious legislative concern.<\/p>\n

In Uganda, a cost-of-living crisis has persisted in the last seven months- marked by a sharp increase in prices of essentials even as authorities attribute the country\u2019s beleaguered economy to global macroeconomic shocks.<\/p>\n

Ending October 2022, Uganda\u2019s inflation rose to 10.7 percent, up from 10 per cent in September. That figure was less by 1 per cent in August 2022.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Government owes Bank of Uganda (BoU) Shs2.5 trillion in form of matured securities, Parliament has learnt. \u201cAt the end of 2021\/2022, there was a Shs2.5 trillion that was outstanding on account of non-reimbursement to Bank of Uganda for the matured securities,\u201d BoU Deputy Governor Micheal Atingi-Ego told Parliament on Tuesday. According to […]<\/p>\n","protected":false},"author":84,"featured_media":42941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-42942","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":"\nGovt owes Central Bank Shs2.5 trillion matured securities - Uganda<\/title>\n<meta name=\"description\" content=\"Government owes Bank of Uganda (BoU) Shs2.5 trillion in form of matured securities, Parliament has learnt. \u201cAt the end ...\" \/>\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\/govt-owes-central-bank-shs2-5-trillion-matured-securities\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt owes Central Bank Shs2.5 trillion matured securities\" \/>\n<meta property=\"og:description\" content=\"Government owes Bank of Uganda (BoU) Shs2.5 trillion in form of matured securities, Parliament has learnt. \u201cAt the end ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities\" \/>\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=\"2023-01-10T16:20:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-10T17:27:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/01\/postQueueImg_1673355032.61.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"688\" \/>\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\/govt-owes-central-bank-shs2-5-trillion-matured-securities#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt owes Central Bank Shs2.5 trillion matured securities\",\"datePublished\":\"2023-01-10T16:20:26+00:00\",\"dateModified\":\"2023-01-10T17:27:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities\"},\"wordCount\":351,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/01\/postQueueImg_1673355032.61.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\/govt-owes-central-bank-shs2-5-trillion-matured-securities#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-owes-central-bank-shs2-5-trillion-matured-securities\",\"name\":\"Govt owes Central Bank Shs2.5 trillion matured securities - 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