By our reporter
President Yoweri Museveni has summoned Bank of Uganda top officials officials for a second time in a period of one week.
According to sources, the officials led by Governor Emmanuel Mutebile will meet the president next week to discuss about the current bicker at the lender of last resort.
Museveni first met the officials early this week where he briefed them about the forthcoming amendment of BoU Act.
“Yes the Governor and a selected team met the President on Wednesday but it is a continuing engagement as government is in the process of amending the Bank of Uganda Act,” the source said.
During a cabinet meeting at State House on Monday, Finance Minister Matia Kasaija noted that government will update the objectives and functions of BoU to reflect changing mandate and roles of the central bank and outline its monetary policy operations.
According to the minister, the amendment will enhance Central bank’s capacity to respond to the challenges arising from the ‘evolving financial market environment.
“Government will ensure effective implementation of the requirements of the new national legislation, regional (EAC) commitments and strengthening all provisions in the current Act that are considered inadequate for the effective execution of BOU’s constitutional roles in the changing environment and clarify those that have presented interpretation challenges,” said Kasaija.
Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
