External Debt Hits U.S. $6.40 Billion

Uganda’s external debt has jumped from $2.45bn in 2007 to $6.40bn as of December 2013, the 201415 national budget framework paper shows.

“USD 4.10bn [64%] of total debt is disbursed and USD 2.30bn [36%] is loan commitments which have not been disbursed,” reads the framework paper from the ministry of Finance, Planning and Economic Development. It explains that the debt has arisen out of the need to finance infrastructural and other priority projects identified by the National Development Plan.

Source : The Observer

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