CSOs call for alternatives to debt restructuring
Civil society organizations across Africa are urging governments to consider alternative strategies for debt restructuring, rather than relying heavily on domestic revenue mobilization, which hampers investment growth and long-term development. They are advocating for debt swaps, restructuring, and renegotiation mechanisms to ease Uganda's burden. Uganda’s national budget for the 2024/2025 fiscal year projects revenue collection at 32 trillion shillings (approximately USD 8.5 billion), yet the country’s debt servicing obligations total 34 trillion shillings (about USD 8.9 billion). This means that debt repayments exceed revenue, which will limit the financial capacity for investments. Ronah Nahabwe reports.
