Uganda Seeks Fresh IMF Deal After Debt Surge

Uganda Seeks Fresh IMF Deal After Debt Surge

Uganda is pursuing a new round of financial assistance from the International Monetary Fund (IMF) as its debt burden grows and its previous funding arrangement lapses. The East African nation’s earlier Extended Credit Facility (ECF), valued at around $1 billion and launched in 2021, expired in 2024 with only $870 million released. Ramathan Ggoobi, the permanent secretary at the Ministry of Finance who also serves as secretary to the Treasury, re…

Uganda Negotiates New IMF Funding Program After Expiry of $1 Billion Facility

Uganda is negotiating a new IMF Extended Credit Facility after the previous $1B program lapsed, as public debt rises to $29.1 billion.