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Added: 1 week 4 days ago
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Banks stuck with trillions of redundant loan cash
Halfway into the Financial year, Commercial Banks report that they have failed to lend nearly 2 Trillion shillings to the private sector, further underscoring the running constraints within the economy.

Half way into the Financial year, Commercial Banks report that they have failed to lend nearly 2 Trillion shillings to the private sector, further underscoring the running constraints within the economy.

The 25th Joseph Mubiru Lecture comemorating the leadership of the 1st Governor of Bank of Uganda, held here in Kampala this afternoon, has had various calls on the need for diverse interventions in order to stimulate the economy.

Among others, the low uptake of credit that has dropped from 15% to 6% according to official figures, is now feared could roll back the projected economic growth of 4.9% for this year.