Uganda in Talks for New IMF Funding Amid Soaring Debt

Uganda is currently negotiating a new Extended Credit Facility Program with the IMF,” Ramathan Ggoobi, the ministry of finance permanent secretary who doubles as secretary to the Treasury, told a meeting of ambassadors, according to a ministry of finance post on the X platform.

Te Country begun negotiations with the International Monetary Fund for a fresh Extended Credit Facility after its previous $1 billion deal expired in 2024, with only $870 million disbursed.

The government aims to submit the new program to the IMF Board following the general elections scheduled for early 2026. Public debt has surged—rising 17.8% in 2024 to reach $29.1 billion, or 52.1% of GDP.