Uganda to host regional debt conference

FINANCE   BUDGET

KAMPALA - Uganda will host a regional conference on public debt management and sustainability next week. The summit will take place between February 26 and 28 at Speke Resort, Munyonyo, in Kampala.

It will be attended by permanent secretaries of the finance ministries from about 20 countries in the Sub Saharan Africa.

The state minister of finance in charge of general duties, Gabriel Ajedra, said the conference will serve as a platform for the countries in the region to have discussions on sustainable public debt management and strengthened economic growth.

‘The conference is a unique opportunity to bring together senior government officials from across Sub Saharan Africa and a wide range of experts and stakeholders, including bilateral and multilateral creditors," the minister told journalists at Media Centre in Kampala on Thursday.

(L-R) Zeridah Zigit Assistant Commissioner insurance policy, Brian Kanzira economist and Gabriel Ajedra State Minister for investment interacting during a press conference at the Uganda media centre

 
The conference, Ajedra added, will also be attended by representatives from the civil society, academia, think tanks and private sector actors to explore ways to "elucidate on complexities facing sovereign borrowers" in the region.

"It will also focus on best practices and new strategies for getting the best deal for financing national development plans, including the sustainable development goals," the minister stated.

He observed that borrowing remains a vital source of funding for the national budget and that the loans are being used to finance the development of key infrastructure projects and provision of social services.

The conference, Ajedra stated, will empower public debt and financial managers in the region to identify practical steps to ensure that loans are used to ultimately foster sustainable economic growth.

Brian Kanzira, a senior economist at the finance ministry, said the conference will also devise ways of strengthening Uganda's position in negotiating the terms and conditions of loans. The summit discussions, he added, will provide a platform for a regional joint position through an exchange of ideas, perspectives as well as identifying policy options and follow-up actions to tackle regional challenges.

"We hope this will lead to sustainable public debt management and strengthened economic growth across the region," Kanzira stated.