• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

IMF chiefs brief Opposition leadership on loans to Uganda

watchdog by watchdog
4 years ago
in National, News
3 0
Izabela Karpowicz(C) briefs the LOP, Hon Mpuuga and other MPs during the meeting at Parliament

Izabela Karpowicz(C) briefs the LOP, Hon Mpuuga and other MPs during the meeting at Parliament

ShareTweetSendShare

The Leader of the opposition in Parliament, Mathias Mpuuga has held discussions with the country representative of the International Monetary Fund (IMF), Izabela Karpowicz, and the donor agency’s chief of mission, Amine Mati.

The meeting, held under the auspices of the Parliamentary Forum on the IMF and the World Bank was intended to brief the Opposition leadership on government programmes supported by the two lending institutions.

Addressing the meeting via zoom from Washington DC, Mati took time to explain the US$1 billion loan facility for Uganda which was approved by the IMF executive board in June under the Extended Credit Facility (ECF) arrangement to support the post-COVID-19 recovery and the authorities’ plan to increase households’ incomes and inclusive growth by fostering private sector development.

Mati said that Uganda was picked for the three-year financing package upon realisation that its economy had been hit hard by the COVID-19 crisis which reversed decade-long gains in poverty reduction, a deterioration of the fiscal balances plus causing pressures on external buffers.

Mpuuga told the IMF team that questions about the loan have remained in the public domain since the government remained cagey on the intent of the loan, and also questioned the manner of how the IMF approved the loan without first seeking Parliamentary approval.
“We are surprised that seeking Parliamentary approval for the loan wasn’t critical for the IMF,” Mpuuga said adding that, ‘some of these conditions that are subject to the laws of the land should be respected because oversight begins with respect of the laid down procedure’.

Mati however, said that since the IMF deals directly with the Government and the Central Bank, the donors took it that there was conformity with the laws by the time applied for the loan.

Budadiri West MP, Hon Nandala Mafabi who is also a board member of the Parliamentary Forum on the IMF and the World Bank tasked the IMF team to explain whether they took into consideration Uganda’s absorption capacity following the Auditor General’s report that indicated that many loans have not been utilised.

In March this year, the Auditor General reported that 12 loans valued at shs1.3 trillion expired before disbursement to respective ministries and government entities which undermines the attainment of planned development targets and render commitment charges paid in respect of the undisbursed funds meaningless.
Other MPs notably, Hon Ibrahim Ssemujju Nganda (FDC Kira Municipality), Betty Nambooze (NUP, Mukono Municipality) and Abed Bwanika (NUP, Kimanya – Kabonera) raised questions on how the IMF came up with the figure for the loan and as to whether it cared about Uganda’s high public debt.

Karpowicz told the meeting that while Uganda’s public debt is high, it does not cause so much concern since its GDP is better than that of many other countries.

“This is why domestic revenue is a key component of the programme [ECF],” she said.

The meeting agreed to further engage the legislators to have a better understanding of how the loan facility was structured and to identify the major gaps in it.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Dr. Yona Baguma
News

NARO Director General, Dr. Yona Baguma, Animates CPA Forum with Breakthroughs in Agricultural Research

11th July 2025 at 17:42
News

Isaiah Katumwa to serenade fans at 30th anniversary fete

11th July 2025 at 17:29
Gen. Muhoozi Kainerugaba hosted Lt. Gen. Issa Saif Al Mazrouei for key discussions on enhancing Uganda–UAE military cooperation. Both sides reaffirmed commitment to regional stability and a shared defence vision.
Community News

Uganda-UAE Strengthen Military Ties in High-Level Meeting

11th July 2025 at 15:38
Next Post
President Yoweri Museveni

MATHIAS LUTWAMA: On the President's nobility; Why Museveni continues to rule Ugandans this long (Prt 8)

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1127 shares
    Share 451 Tweet 282
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    50 shares
    Share 20 Tweet 13
  • Who is Bosco Muwonge, Uganda’s elusive real estate billionaire?

    37 shares
    Share 15 Tweet 9
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2289 shares
    Share 916 Tweet 572
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    49 shares
    Share 20 Tweet 12
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

Dr. Yona Baguma

NARO Director General, Dr. Yona Baguma, Animates CPA Forum with Breakthroughs in Agricultural Research

11th July 2025 at 17:42
Mashable is a global, multi-platform media and entertainment company For more queries and news contact us on this Email: info@mashablepartners.com

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0
Dr. Yona Baguma

NARO Director General, Dr. Yona Baguma, Animates CPA Forum with Breakthroughs in Agricultural Research

11th July 2025 at 17:42

Isaiah Katumwa to serenade fans at 30th anniversary fete

11th July 2025 at 17:29

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda