The International Monetary fund (IMF) has approved a loan of $491M (£399M) to Uganda to help the country’s economy contain the coronavirus pandemic.
IMF said that weakening economic conditions from the impact of coronavirus had put pressure on revenue collection by the government.
The International leading lender institution says the money will help Uganda to finance healthcare and measures to stabilize the economy as well as catalyse additional financing from the international community.
IMF recognizes that Uganda has been hit hard by the coronavirus pandemic and key sectors of the economy such as agriculture are at risk.
The IMF also says the covid-19 pandemic has been made worse by the heavy rains and threat from swarms of locusts.
Uganda has confirmed 100 coronavirus cases, with zero deaths.
Source: BBC News
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