El endeduamiento para proyectos de infraestructura no es sostenible, dice el Ministerio de Finanzas ugandes

Martes, 19 de Septiembre de 2017

 fuente : New vision

Keith Muhakanizi, the permanent secretary and secretary to the treasury, has revealed that securing financing for infrastructure development through loans by the Government is becoming expensive and less sustainable.

His comments follow recent comments by President Yoweri Museveni who said there was no need for Ugandans to worry over foreign debt. He said borrowing will not exceed the 50% danger zone.

There is no need to worry about debts, even after we have borrowed for railways and dams, the debt will be about 38% of the GDP, which is below the 50% which is the danger zone, Museveni said during an interview with South Africa based television CNBC.

Last year, Mira Clara, the International Monetary Fund (IMF) resident representative in Uganda was quoted by media saying the ambitious infrastructure investment of the country would result into an increase in debt to about 50% of GDP in 2021.

Muhakanizi said there is need for the Government to explore alternative means of raising funds from private sector to finance infrastructure investments, which are vital for the attainment of country economic goal and development.

Muhakanizi was represented Moses Kagwa, the director of economic affairs at the finance ministry during the second roundtable discussion on Public Private Partnerships (PPPs) for infrastructure and project development at Kampala Serena Hotel.

He hailed the Chinese Government for its continued support to Uganda, especially in terms of infrastructural establishment, saying it has already committed to fund roads for over $5b in the country.

The roundtable discussion, which was organised by Standard Chartered Bank attracted several dignitaries from embassies, economists and experts in Government and private sectors.

The Government has developed a key strategy contained in national development plan of partnering with private sector in the development and provision of public infrastructure and related services to attain sustainable economic growth, read part of Muhakanizi's speech.

Zhao Xiufen, the economic and commercial counsellor at the Embassy of the People Republic of China praised the relationship between Chine and Uganda, saying it has seen China becoming the largest investment source to Uganda.

China is the key partner with Uganda; it is constructing several projects such as Karuma Hydro power, Isimba dam and Kampala-Entebbe Express Way as well as Entebbe Airport expansion project, Xiufen stated adding that the political stability attained by the country are vital for investment. 

Albert R. Saltson, the chief executive officer of Standard Charted Bank explained the importance of a collaborative effort of different stakeholders in development of infrastructure.

We affirm our commitments to financing infrastructure projects, that is why we invited both the Government and private sector to see how we can shore up the PPP arrangement.

"PPP is a tool that the Government adopted in order to assist in provision of public services and public infrastructure and it also represents its commitment on increasing public sector investments, he stated.


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