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Uganda: Banking and Currency
Country Study > Chapter 3 > The Economy > Banking and Currency

BANKING AND CURRENCY


Uganda's years of political turmoil left the country with substantial loan repayments, a weak currency, and soaring inflation. During the 1970s and early 1980s, numerous foreign loans were for nonproductive uses, especially military purchases. Even after the Museveni regime seized power, debts climbed while the productive capacity of the country deteriorated. To resolve these problems, the government tapped both external creditors and domestic sources, crowding out private-sector borrowers. The Museveni government then attempted to reduce the percentage of government borrowing from domestic sources and to reschedule payments of foreign loans. The government also implemented successive devaluations of the shilling in order to stabilize the economy.

Data as of December 1990




Last Updated: December 1990


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Uganda was first published in 1990. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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Section 101 of 169






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