The Permanent Secretary and Secretary to the Treasury (PSST), Mr Ramathan Ggoobi, has assured the public about the Sh97tn public debt.
Ggoobi said that Uganda’s debt is sustainable and the country can secure more loans, unlike some nations in Africa that have been blacklisted in the credit market.
“The debt is sustainable, Uganda is fully participating in the credit market. Many countries in Africa are struggling to access the credit market. They can’t be allowed to borrow, they have been blacklisted, we have a good strategy to address the risks, we know we have risks, we have challenges which we are discussing, but we have a strategy,” Ggoobi assured the nation while appearing in Parliament.
The public debt has raised a nationwide debate and discussion with many members of the public worried about the Government’s ever increasing appetite for borrowing.
Ggoobi however noted that there’s no reason for panic as the Government is on top of the situation in regards to management of the public debt.
