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Uganda govt says not concerned by heavy debt load, to borrow cautiously

Uganda Minister of Finance Matia Kasaija

Uganda said on Tuesday its ballooning public debt was sustainable and it would borrow with care in the future, dismissing concerns from the central bank and the government’s auditor that growing indebtedness posed risks to the economy.

The East African nation’s appetite for credit has accelerated over the last decade, fuelled by leader Yoweri Museveni’s plans to expand transport and energy infrastructure.

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