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KAMPALA, June 11 (Xinhua) — Uganda is negotiating with bilateral creditors for debt relief after the COVID-19 pandemic affected its economic growth, a top official said here on Thursday.
Matia Kasaija, minister of finance, while presenting the budget estimates for 2020/21 financial year, which starts on July 1, said the move will free resources to finance interventions in the fight against the pandemic.”
Kasaija said to ensure that public debt remains sustainable, government will implement the Domestic Revenue Mobilization Strategy to increase the capacity to finance programs with less reliance on domestic and external borrowing.
Ministry of finance figures show that total debt stock as of December 2019 was 13.3 bil…
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