Presidential adviser gives assurance on economy

Senior presidential advisor on finance and planning Dr. Ezra Suruma has downplayed claims that the economy is melting down due to recent developments in the banking sector.

This follows fears raised over the state of the country’s economy after the central bank took over management of Crane Bank last week.

Prof Suruma says like any other business, banks also face challenges and this is not unique to Uganda.

He however says government cannot allow a bank to fail with people’s savings and he explains the intervention of the central bank.