Uganda Debt Network @ugandadebtnet
UDN is an Non-Governmental organization working towards a prosperous Uganda with sustainable, equitable development and a high quality of life of the people. udn.or.ug Plot 153-154 Ntinda Road,Ntind Joined September 2013-
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📢Ahead of the IDA for African Heads of State Summit on Apr 28-29 in Nairobi, join @MOGinAfrica, @szmakka, & @JasonBraganza1 for a media briefing on #IDA21 replenishment & its impact on #Africa. 🗓️Apr 25, 3 PM EAT 🔗bit.ly/44gcSrm cc: @AFRODAD2011 @ONEinAfrica @WBG_IDA
Honored to participate in the African wide meeting discussing how to change the narratives and practices of international development cooperation amidist a polycrisis to reform ODA & the development cooperation architecture, hosted by Reality of Aid Africa in NBO @ugandadebtnet
We wrapped up our 4 day training with Dr. Seruyange urging members of the National Economy Committee to always design risk management frameworks for loans before they are approved. This will contribute to minimizing costs and risks of the debt to be acquired. @AFRODAD2011
Debt management looks at minimizing costs and risks. When a loan is tabled, analyse the acquisition. What is the money for? Is it really urgent and what is the repayment plan? Approve a loan that has less risks and cost - Dr. Seruyange.
#HappeningNow The last day of the training for MPs of @Parliament_Ug is underway! Today, Dr. Seruyange of @Makerere School of Economics is taking us through debt management with emphasis on how costs and risks can be managed.
As day 3 of the training comes to an end, members of the National Economy Committee of @Parliament_Ug have been urged to always ask for the repayment plan of @GovUganda before approving loans so as to ease annual assessment.
I think the problem we have is that we are borrowing money yet we are not ready to use it - Isaac Etuka, Upper Madi county MP
When the Anti- homosexuality bill was passed, there were concerns from the public that @GovUganda would not get funding but I was confident because these people are trading money - Glorious Kamayangi, Assistant Clerk to @Parliament_Ug
We tend to forget that many of these lenders want to lend to us. It is business. They are trading money. Once they know that you want a loan, they will push you down in terms of interest - Dr. Seruyange
Many countries in the Global South are at the receiving end of hard money in exchange for SDRs which may weaken their capacity for domestic resource mobilization. Apart from loans and SDRs, Dr. Seruyange says there are extra funding mechanisms that @GovUganda can resort to.
The one thing we have not done well is value addition. We need to commission a study to know where we can sell our exports and increase our export earnings - Dr. Seruyange. @AFRODAD2011 @UNICEFUganda @savechildrenug @TumwebazePatri8
Uganda’s export earnings dropped because of the Covid-19 pandemic and yet the import expenditure remained positive. Therefore, we needed support to cover up that gap- Dr. Seruyange.
SDRs are issued when there is a shock such as the Covid-19 pandemic or when member countries are indebted - Dr. Seruyange.
It is Day 3 of the training for MPs from @Parliament_Ug on debt and SDRs. Our facilitator of the day is Dr. John Seruyange from @Makerere School of Economics and he is taking us through SDRs.
Members of the National Economy Committee of @Parliament_Ug were advised to always look at the solvency and liquidity ratios of the country before borrowing to ensure that the new debt being acquired doesn’t push the country into a situation where debt is no-longer sustainable.
Is Uganda’s debt really sustainable? Despite the @mofpedU figures showing that the debt to GDP ratio is below 50%, we are seeing @GovUganda struggling to refinance the debt.
In order to minimize cost and risk over the medium to long term, @GovUganda can adopt different policies so as to diversify and deepen sources of financing. @AFRODAD2011
Dr. Bireete Sarah @SarahBireete
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📢Ahead of the IDA for African Heads of State Summit on Apr 28-29 in Nairobi, join @MOGinAfrica, @szmakka, & @JasonBraganza1 for a media briefing on #IDA21 replenishment & its impact on #Africa. 🗓️Apr 25, 3 PM EAT 🔗bit.ly/44gcSrm cc: @AFRODAD2011 @ONEinAfrica @WBG_IDA
Mark Mutumba, Tax Policy Analyst: The extension of tax exemptions to Private equity and Venture capital funds lacks regulatory guidance from the @CmaUganda. This absence of regulation could result in redundancy in the law and facilitate revenue leakages. #TaxJusticeUG #TaxBillsUG
@xtinebyiringiro program manager @ugandadebtnet is concerned with the tax exemptions on income earned from disposal of government securities on secondary market.In return,it will affect investment in developmental sectors of the economy and reduce fiscal equity
Alor Steven, Economist, @CSBAGUGANDA: We call on government to reduce their supplementary budgets especially toward the end of the Financial Year given that they are for mostly recurrent expenditure which could have been forecasted. #TaxJusticeUG #TaxBillsUG #SEATINIOnBudget24
Taxes are mainly tagged for the consumers. This is why we urge the @GovUganda to copy from other countries and avoid implementing these taxation policies with immediate effect without doing proper taxation education. - Faith O @amwaafrika . #TaxJusticeUG #TaxBillsUG…
We all know Ugandans have been over priced for fuel and now Applause the parliament to allow @UNOC_UG distribute fuel and that will help on the reduction of the cost . There should also be a reduction of taxes on it too - Mark O #TaxJusticeUG #TaxBillsUG #SEATINIOnBudget24
We have been part of the CSOs press brief on a position paper as a response to the new tax proposals by govt of Uganda for the FY 2024/2025. Some of the proposed measures include, Curbing Illicit financial flows,formalization of Artisanal miners,among others.
According to @GovUganda, illicit financial flows cost the country around 500 billion shillings every six months. However, implementing improved systems could prevent these losses, says Oluma Kennedy. #TaxJusticeUG #TaxBillsUG #SEATINIOnBudget24
We call for deep, wide, and urgent debt cancellation. The IMF and the WB persist in pushing loans as the answer to multiple crises but the solutions they promote have only contributed to worsening the debt problem. @WorldBank @IMFNews @KGeorgieva @AsianPeoplesMvt @debtgwa…
Honored to participate in the African wide meeting discussing how to change the narratives and practices of international development cooperation amidist a polycrisis to reform ODA & the development cooperation architecture, hosted by Reality of Aid Africa in NBO @ugandadebtnet
#CartoonofTheWeek Despite following IMF/World Bank advice & the continued extension of loans over time, many developing countries remain in a cycle of economic distress. How can International Financial Institutions better support development aspirations of developing countries?
@ugandadebtnet @AFRODAD2011 @Parliament_Ug @TumwebazePatri8 @savechildrenug @UNICEFUganda MPs agree that Government is not ‘feeding the cow’ so we can milk it. In otherwords the economic environment is not favourable to enable the taxpayer ably pay their fair share of taxes.
Happening Now! In partnership with, @OxfaminUganda, @amwaafrika and @TaxJusticeAfric we are convening a 2-day CSO retreat under the auspices of the @taxalliance_ug to review & develop a CSO position on Tax Amendment Bills for FY 2024/25 to inform the policy formulation process.
Happening Now With support from @SEATINIUGANDA @OxfaminUganda, @amwaafrika and @TaxJusticeAfric we are convening a 2-day retreat to review and develop a unified CSO position on the Tax Amendment Bills for FY 2024/25 to inform the policy formulation process. #TaxJusticeUg ⚖️🇺🇬
Today @UNICEFUganda joined @mofpedU & @ugandadebtnet to launch the Braille & audio/visual versions of the Citizen’s Guide to the Budget FY 2023/24, to empower all citizens to engage in budget processes. #InvestInUGchildren
@UNICEFUganda representative,Dr.Munir Safieldin's remarks were delivered on his behalf by Dr Moses Sichei the Chief, Social Policy. He applauded @GovUganda & @mofpedU commitment to ensuring that every citizen has equal access to vital information regardless of their abilities or…
ED @ugandadebtnet Tumwebaze Patrick: “We are honored to be part of this launch of the brail & audio visual versions of the Citizen’s Guide to the budget FY 2023/24. This is a great milestone towards inclusiveness in budget participation & transparency.” #BrailleAudioVersion
The launch of #BrailleAudioVersion for the Citizens Guide to the budget opens up budget information to visually impaired individuals, empowering them to engage in discussions, debates, and advocacy independently. #DoingMore #OpenGovUg @Mglsd_UG @UNICEFUganda
In line with Access to Information Act 2005 & Public Finance Management Act 2015, @mofpedU partnered with @ugandadebtnet, @UNICEF, @UgandaUnab to create #BrailleAudioVersion of Citizens Guide to the Budget so as to bridge the gap in access to information by the visually impaired.