The government must use money from the main government account (the Consolidated Fund) and other public funds to pay off Uganda's public debt. This debt includes the money borrowed, plus interest, payments into a special fund to gradually reduce the debt (sinking fund), and all costs of managing the debt. In everyday terms, this means the government is required by law to set aside public money to repay loans and keep the country's credit good. Citizens should know that debt payments come before many other public spending, which can affect how much money is left for services like health or roads.

The public debt of Uganda shall be charged on the Consolidated Fund and other public funds of Uganda.

For the purposes of this Article, the public debt includes the interest on that debt, sinking fund payments in respect of that debt and the costs, charges and expenses incidental to the management of that debt.

Article 161: The Bank of Uganda is the country’s central bank and the only authority allowed to issue currency.

Article 160: How Public Debt is Paid in Uganda

General

160.Public debt

Summary