Uganda Asks IMF for $900 Million Three-Year Loan Package

Loan will help bridge East African nation’s 2021-22 budget gap
IMF loaned Uganda $491.5 million to cushion economy from virus

A passenger wearing a protective face mask sits aboard an electric bus in Kampala, Uganda.Photographer: Esther Ruth Mbabzi/Bloomberg

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By Fred Ojambo

May 5, 2021 at 12:19 PM UTC

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Uganda is seeking at least $900 million in a three-year International Monetary Fund program for its budget amid rising spending due to the Covid-19 pandemic.

Negotiations are expected to conclude ahead of the 2021-22 budget presentation next month, Treasury Deputy Secretary Patrick Ocailap said Wednesday in an interview in the capital, Kampala.