By Charles Katabalwa

18th June 2019

 

Bank of Uganda (BOU) has said that it is not aware of the alleged extra money carried into the country as initial reports had suggested.

 

Initial reports said Shs90bn excess money was on the same chartered plane that delivered the consignment of BoU official currency notes from Germany in April.

BoU Governor Emmanuel Tumusiime Mutebile says that they ordered for 20 pellets of Uganda’s currency but later it got to their knowledge that the Chartered Cargo Plane was carrying 25 Pellets which raised suspicion and he informed the Head of State House Anti-corruption Unit, Lt Col Edith Nakalema to investigate and find out the truth.

 

Saying this, Mutebire was reading the Monetary Policy Statement for June at the Central Bank headquarters in Kampala where he announced that Bank of Uganda’s rate will be maintained at 10%.

Mutebile avoided commenting on the ongoing Saga of the alleged importation of extra currency amounting to UGX 90 Billion arguing that investigations are ongoing.

He instead focused on the Monetary Policy Statement saying that the inflation outlook over 12-months was largely unchanged compared to the April 2019 forecast round.

BOU says Growth was largely supported by the accommodative monetary policy stance and the resultant growth in private sector credit, fiscal impetus and multiplier effects of public infrastructure investments, ensuing strong domestic demand conditions and improved agricultural performance.


Tuesday 18th June 2019 07:19:51 PM