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CSBAG Calls on Government to Tame the Colossal Domestic Debt Dragon

Mourice Muhoozi by Mourice Muhoozi
1 year ago
in National, News
1 0
Jeff Wadulo, CSBAG's program advisor

Jeff Wadulo, CSBAG's program advisor

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The Civil Society Budget Advocacy Group (CSBAG) has sounded the alarm, demanding that the government deploy Herculean measures to wrestle control over the burgeoning domestic arrears that threaten to swallow the nation whole.

The flamboyant Jeff Wadulo, CSBAG’s program advisor, led the charge, expressing palpable concern over the alarming pace at which the arrears have mounted—a spectacle he likened to a fiscal avalanche careening down the slopes of economic responsibility.

He accused the government of displaying a lackadaisical attitude, a nonchalant disregard for the 2021 strategy crafted to obliterate and regulate domestic arrears.

In a grandiose gesture, the government, in its next financial year spectacle, has allocated a staggering Shs217 billion to exorcise the ghosts of domestic arrears—debts haunting the corridors of ministries, departments, and agencies, a financial specter that refuses to be laid to rest.

Economist extraordinaire, Steven Alor of CSBAG, injected a dose of hyperbole into the discourse, proclaiming that if the government persists in doling out a meager Shs217 billion annually to settle its domestic debts, the nation would languish in a purgatory of indebtedness for a staggering 35 years.

He declared this economic limbo as a stifling force upon the growth of the private sector-driven economy.

CSBAG, not content with mere verbal flourishes, issued a bold decree, calling on the government to wield a draconian sword of enforcement.

They demanded stringent control mechanisms, envisioning a scenario where accounting officers who dare to flout the sacred Public Finance Management Act by amassing arrears with no intent of payment would be held culpable—serving as a dire warning to fiscal delinquents.

In a parliamentary symphony orchestrated by the revered Hon Achia Remegio, CSBAG unveiled their list of financial priorities that could, in their eyes, wait for a more auspicious moment.

This strategic reshuffling aimed to channel additional funds into the colossal task of clearing arrears and addressing other unfunded priorities. The sacrificial lambs on this budgetary altar included donations, official ceremonies, state functions, travels, workshops, and the enigmatic world of classified assets and expenditures.

Wadulo, with an air of mystique, spoke of “repurposing,” a euphemism for a financial alchemy to extract resources from the ether. He tantalizingly suggested that details lurking within the classified budget could be scrutinized by vigilant MPs, uncovering items that might graciously “wait.”

In a rare moment of harmony, Members of Parliament on the Budget Committee harmonized their voices with the CSBAG’s crescendo.

They echoed concerns about arrears left orphaned in the budget, clamoring for prioritization of government assurances, especially the unprovided-for commitment to clear debts on coffee and tea seedlings—a fiscal ballad that resonated within the chambers.

As the Budget Committee wrapped up its report, having received sectoral blessings on the Budget Framework Paper, a tantalizing promise of future discussions with the Finance Ministry on January 22, 2024, hung in the air—an ominous meeting that could shape the financial destiny of the nation.

The stage is set for a showdown between fiscal responsibility and the looming debt dragon.

 

 

 

 

 


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