{"id":55790,"date":"2023-09-20T21:36:33","date_gmt":"2023-09-20T21:36:33","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition"},"modified":"2023-09-20T23:03:45","modified_gmt":"2023-09-20T23:03:45","slug":"us-dollar-dominates-ugandas-external-debt-currency-composition","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition","title":{"rendered":"US dollar dominates Uganda\u2019s external debt currency composition"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>The US dollar has continued to dominate the currency composition of Uganda\u2019s external debt, standing at 48.42 per cent, which translates into about $6.68 billion.<\/p>\n

According to the annual debt statistical bulletin and public debt portfolio analysis for June 2023, the Ministry of Finance said Uganda\u2019s public debt continues to rise.<\/p>\n

\u201c…as such, total public stock increased by 10 per cent ($2.25 billion), from $20.97 billion as at June 2022 to $23.22 billion as end of June 2023. The domestic debt increased by $1.27 billion from $8.2 billion in June 2022 to $9.4 billion in June 2023,\u201d the bulletin released in September suggests.<\/p>\n

The Ugandan government mainly uses four major currencies in compiling external debt and these include the US dollars, Euro, Chinese Yuan Renminbi and the Japanese Yen.<\/p>\n

Uganda\u2019s finance ministry says the Euro is the second dominant currency on government external debt, accounting for 32.88 per cent (which is Euros 4.53 billion)<\/p>\n

This indicates an increase of 3.32 percentage points during the FY2022-23.<\/p>\n

\u201cIt is attributed to increased disbursement of Euro 500 million from Standard Bank South Africa (SBSA) during the same FY for budget support,\u201d the finance ministry explained.<\/p>\n

The Japanese Yen constitutes 5.51 per cent, which translates to 0.76 billion, Yuan Chinese Renminbi is 5.39 per cent, which equals to 0.74 billion.<\/p>\n

In the category of other currencies, dominance stood at 7.8 percent, which is 1.08 billion composed of different international legal tenders.<\/p>\n

Commenting bulletin\u2019s data, the finance ministry\u2019s acting director for debt and cash policy, Maris Wanyera said: \u201cThis 33rd edition of the Debt Statistical Bulletin (SSB) is a testament to our commitment towards transparency in debt management.\u201d<\/p>\n

\u201cIt also embodies our dedication to providing the public with periodic and up to date information on our national debt,\u201d she emphasized.<\/p>\n

Uganda\u2019s Permanent Secretary\/Secretary to Treasury, Ramathan Ggoobi acknowledged that \u201creliable and up-to-date debt statistics are essential for informed decision-making by governments, investors, international financial institutions and the general public.\u201d<\/p>\n

\u201cQuarterly production of DSBs is in line with not only the reporting of the Debt Management Performance Assessment (DeMPA), but also the mutually agreed Policy Performance Actions (PPAs) for FY2022\/23, 2023\/24 of the World Bank, demonstrating our adherence to international best practice,\u201d he remarked.<\/p>\n

Ggoobi added: \u201cThe DSB serves as a strategic tool that aids in fostering a deeper understanding of our national debt landscape.\u201d<\/p>\n

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

Africa-Press – Uganda. The US dollar has continued to dominate the currency composition of Uganda\u2019s external debt, standing at 48.42 per cent, which translates into about $6.68 billion. According to the annual debt statistical bulletin and public debt portfolio analysis for June 2023, the Ministry of Finance said Uganda\u2019s public debt continues to rise. \u201c…as […]<\/p>\n","protected":false},"author":84,"featured_media":55789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-55790","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":"\nUS dollar dominates Uganda\u2019s external debt currency composition - Uganda<\/title>\n<meta name=\"description\" content=\"The US dollar has continued to dominate the currency composition of Uganda\u2019s external debt, standing at 48.42 per cent, ...\" \/>\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\/us-dollar-dominates-ugandas-external-debt-currency-composition\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US dollar dominates Uganda\u2019s external debt currency composition\" \/>\n<meta property=\"og:description\" content=\"The US dollar has continued to dominate the currency composition of Uganda\u2019s external debt, standing at 48.42 per cent, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition\" \/>\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=\"2023-09-20T21:36:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-20T23:03:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/09\/sm_1695234621.730999.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\/us-dollar-dominates-ugandas-external-debt-currency-composition#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"US dollar dominates Uganda\u2019s external debt currency composition\",\"datePublished\":\"2023-09-20T21:36:33+00:00\",\"dateModified\":\"2023-09-20T23:03:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition\"},\"wordCount\":393,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/09\/sm_1695234621.730999.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\/us-dollar-dominates-ugandas-external-debt-currency-composition#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/us-dollar-dominates-ugandas-external-debt-currency-composition\",\"name\":\"US dollar dominates Uganda\u2019s external debt currency composition - 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