By Kagimu Akram
The Minister for Finance Planning and Economic Development, Matia Kasaija has warned technocrats and civil servants against misappropriating the Shs. 3.5 trillion loan from the International Monetary Fund (IMF).
The IMF on Tuesday approved a Shs 3.5 trillion ($1 billion) loan to Uganda to help mitigate the effects of the Coronavirus pandemic.
Kasaija said that government will not take any chances and all officials who misappropriate the funds will be arrrested and prosecuted.
Kasaija made these remarks while addressing the press at the Ministry of Finance headquarters in Kampala.
“I will not hesitate to institute disciplinary measures on any accounting officer who will fail to provide accountability or execute timely government projects and programs,” Kasaija said.
Kasaija said that government thought that people in public offices would change, but now they realise that they will not and games must stop.
Kasaija said that the loan will finance different government projects over three years, “We will use it to increase domestic revenues, foster public sector efficiency and strengthen governance while preparing the ground for sound management of all revenues.”
Kasaija urged government officials to be efficient in implementing all the projects that have been lined up by government.
The minister also warned that Uganda is likely to find itself in a situation where it may not be able to pay back all its loans.
“The issue of borrowing should now stop, even the issue of financing the COVID-19 fight as well, that shs 600 billion that we mentioned, we shall cut on the availabile budgets, no borrowing,” Kasaija said.