The Secretary to the Treasury (PSST) Ramathan Ggoobi has tasked the Directorate of Debt and Cash Policy at the Ministry of Finance with ensuring all government financing decisions support Uganda’s long-term economic interests.
Speaking during the Directorate’s meeting at the ministry, Dr Ggoobi said rising debt servicing costs remain a major concern for leaders, investors and citizens because they continue to limit government’s ability to spend on other priorities.
He said Uganda’s credibility in international financial markets depends on responsible debt management and urged the directorate to protect the country’s reputation by promoting prudent borrowing.
“As Uganda enters a period of accelerated economic growth, your role must evolve beyond facilitating financing transactions. You are expected to serve as Government’s strategic financial advisors, providing objective, evidence-based and courageous advice that safeguards the country’s long-term economic interests,” Dr Ggoobi said.
He asked the directorate to identify emerging financial risks, propose solutions and prevent challenges before they affect the economy.
Dr Ggoobi said debt managers must ensure Uganda borrows only when necessary, directs funds towards high-impact investments and maintains strong standards of professionalism and integrity.
“Your mission is clear: protect debt sustainability, preserve macroeconomic stability, borrow prudently and only when necessary, finance high-impact investments, provide clear, objective, and evidence-based advice and uphold the highest standards of integrity and professionalism,” he said.
The Acting Director of Debt and Cash Policy, Maris Wanyera, said the directorate remains committed to securing affordable financing to support Uganda’s Tenfold Growth Strategy.
