Museveni Rejects Use of Dollar Reserves to Stabilise Shilling, Urges Import Cuts

What the report says

President Yoweri Kaguta Museveni has rejected proposals to sell dollars from Uganda’s foreign exchange reserves to stabilise the shilling, instead urging Ugandans to reduce imports and the country to increase its earnings from exports and tourism. Museveni said the weakening shilling reflected a shortage of foreign currency relative to demand, warning that using reserves to […] The post Museveni Rejects Use of Dollar