Government is not broke

Tumusime Mutebile

Bank of Uganda has dismissed reports of a looming financial crisis.

This follows reports that the treasury was running dry, making it difficult for government to meet its obligations including funding the 2016 elections.

This prompted some NRM MPs to front a proposal to have the elections postponed over lack of funds.

However, according to the Bank’s Director in charge of Research Adam Mugume, the allegations are baseless.

Mugume adds though, that the elections could affect the economy since they involve using large sums of money;