Copyright 2014

Uganda Poor At Negotiating Foreign Debts - EPRC

Juvenal Muhumuza, the acting commissioner, Debt Issuance, at the ministry of Finance, Planning and Economic Development, said it is true that there are implementation challenges but refuted claims that the ministry had challenges with negotiating for debt.

The issue is on implementation challenges; for instance, you borrow a loan and it is supposed to be implemented in six months. But because of the implementation challenges it takes two years, he said.

Muhumuza clarified that in terms of negotiations, the ministry has a directorate of cash and debt management which is charged with negotiating for loans. There is also a department called Development Assistance and Regional Cooperation which has capacity to negotiate for the loans.

We invite people from other sectors to guide us. I really think we dont have a big problem on debt negotiation, he said.