“We’re borrowing $200 million from the PTA Bank to support the shilling,” Kasaija told Reuters. “Discussions are concluded and cabinet approved last week. We’re now waiting for parliament to approve.” Uganda‘s central bank has sold dollars on numerous occasions this year to support the shilling, which is down about 17 percent against the dollar in 2015.
Dec 1, 2015
Uganda to borrow USD200 M to support currency
“We’re borrowing $200 million from the PTA Bank to support the shilling,” Kasaija told Reuters. “Discussions are concluded and cabinet approved last week. We’re now waiting for parliament to approve.” Uganda‘s central bank has sold dollars on numerous occasions this year to support the shilling, which is down about 17 percent against the dollar in 2015.