THE ROT IN TODAY'S CHURCH
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MORTGAGING UGANDA OIL REVENUES
Borrowing against oil revenues is purely an economic decision, right decisions means gaining good value from the country’s’ resource and a wrong decision means carrying the resource burden generation after generations. Uganda is at that point of making a borrowing decision against oil revenues which either turns into a curse or blessing. The country needs infrastructural sector developments that require huge sums of money not easily accessible domestically. This will automatically affect the external debt and change the entire facet of Uganda economy. But Maria Kiwanuka the minister of finance says, there are mitigation measures to ensure Uganda takes good and cost effective borrowing deals. There are reports of growing pressure from international lenders with finance options eying repayments when Uganda oil and gas production begins most likely in 2018. But the decision to borrow against oil revenues is purely economic, speculators and me...
