Coronavirus pandemic- Page 19

The Finance Minister has tabled a proposal to borrow 1.7 trillion shillings , (449.8) million dollars to mitigate the effect of the Coronavirus (COVID -19) pandemic which has slowed down the economy. The Proposal was presented today during plenary by the Minister of Finance in Charge of Planning, David Bahati. Government will borrow 757 Billion Uganda shillings for this financial year ending and next financial year from the International Development Association (IDA) of the World Bank Group to provide sufficient financial resources to the health sector and mitigate negative effects on the economy due to COVID-19. The government also seeks to borrow 948 Billion shillings from the International Monetary Fund (IMF) for balance of payments support to the Bank of Uganda (BoU). This is to ensure that international reserve buffers remain strong and that the exchange rate remains stable. Rebecca Kadaga, the Speaker of Parliament forwarded the two proposals to the Parliamentary committee on budget to scrutinize it urgently. Recently when presenting the likely economic impact of the Coronavirus, the Finance Minister Matia Kasaija told MPs that Uganda faces a revenue shortfall of 270 Billion shillings due to the lock down. “To deal with this economic shock, both fiscal and monetary policy adjustments would be required. The fiscal policies will play a critical role in mitigating the negative impact of the pandemic on economic activity and the challenges in the affected sectors particularly health, while monetary policies will help to reduce the impact of the deterioration of the Balance of Payments.” said Kasaija. He also said that 80,000 Ugandans are mostly likely to be pushed into poverty due to the low activity in the service and industry areas, and this will lead to a decline in economic growth. The economic growth for the country for financial year 2019/2020 has been revised downwards from 6.0% to 5.2% or 5.7% depending on the severity of the impact of the virus in Uganda.

Gov’t to Borrow UGX 1.7 Trillion to Mitigate Effects of COVID -19

The Finance Minister has tabled a proposal to borrow 1.7 trillion shillings, (449.8) million dollars to mitigate the effect of the coronavirus pandemic which

April 2, 2020

CORONAVIRUS·Parliament

Security Task Force to Close Markets for Defying Covid-19 Guidelines

Lt Col Henry Obbo, one of the Joint Task Force spokespersons, said they are monitoring all the markets in Kampala at the National Closed

April 2, 2020

Uganda's coronavirus recoveries rise to 52 as five are discharged

Uganda Health Ministry Decentralizes COVID -19 Care

She said while hospitals in the districts will be able to draw samples, still tests will be conducted at the Uganda Virus Research Institute

April 2, 2020

Breaking News·CORONAVIRUS

Market Vendors Embrace Digital Platforms to Keep In Business

Our reporter placed an order on WhatsApp through Deo Twikiriize, the team leader Nakawa Market Online Store. He explained that he was working with

April 2, 2020

Breaking News·CORONAVIRUS·News

Covid-19: Kabale Authorities Considering Recalling Health Workers From Leave

Alfred Besigensi, the acting Kabale District Health Officer says between 10 and 15 of the over 300 health workers in the district take leave

April 2, 2020

Breaking News·CORONAVIRUS·National

COVID-19 Pandemic Exposes Church Fraudsters- Pastor Male

Male, who is living a simple life at his home in Kawempe, says he has for some time been trying to expose fraudulent preachers

April 2, 2020

Breaking News·CORONAVIRUS·Religion

American Jazz Patriarch Marsalis, Dies of Corona Virus at 85

Ellis Marsalis, Jazz Patriarch, Dies at 85 After Battle With Coronavirus, Son Says (NEW ORLEANS) — Ellis Marsalis Jr., jazz pianist, teacher and patriarch

April 2, 2020

America·Breaking News·CELEBRITY/GOSSIP·CORONAVIRUS·Featured·News·Orbituary

INDIA: Punjab Police Release Song To Spread Awareness Over Contagious Virus

The video of the song shows cops training children from the poor about how to wear masks and giving sanitisers to the people for

April 1, 2020

Breaking News·CORONAVIRUS·INDIA·News

UK Covid-19 death toll jumps by 563 in 24 hours

UK, Spain, see highest daily deaths as Iran’s total toll passes 3,000 in what’s seen as worst crisis since WWII. The coronavirus death toll

April 1, 2020

Breaking News·CORONAVIRUS·International·News

Kasese District Offers Food Aid to Mothers, Boda Boda Riders Because of Lockdown

The Kasese LC V vice chairperson Gideon Ntabose says that as local government they must be responsible in ensuring that the residents in the

April 1, 2020

Breaking News·CORONAVIRUS·National·News

Ugandan Curfew: Over violators 60 arrested and 30+ vehicles impounded

We appeal to Ugandans return to their respective homes on time to avoid panicky movements, running around and carelessly crossing roads as this may

April 1, 2020

Breaking News·CORONAVIRUS·Crime & Justice·Security

COVID-19: Uganda Health Ministry Planning to Turn Namboole Stadium into Health Facility

Atwine, who was responding to questions from Members of Parliament in regards to their preparation to handle cases in case they rise, said that

April 1, 2020

Breaking News·CORONAVIRUS·Featured·Parliament

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