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The first Ugandan shilling (UGS) replaced the East African shilling in 1966 at par. Following high inflation, a new shilling (UGX) was introduced in 1987 worth 100 old shillings. The shilling is usually a stable currency and predominates in most financial transactions in Uganda, which has a very efficient foreign exchange market with
Sources from within the government reveal that the main concern at present is the manner in which millions of dollars have been lost in the past decade, money that could allegedly have stayed in Uganda for investment in the public sector; a Global Financial Integrity report recently revealed that illicit money flows from Uganda between 2001 and ...
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
Canary Mugume is a Ugandan investigative journalist with NBS Television and a Léo Africa Young Emerging Leaders Program Fellow. His investigative reporting is specialized in current affairs, dysfunctions of the economy, and social matters and led him to be elevated to the prime news bulletin Live @ 9 together with Isabella Tugume on Monday 2 August 2021.
Despite Amin's claims of returning control of the economy to ordinary Ugandans, the expulsion greatly harmed the economy of the country. The GDP of Uganda fell by 5% between 1972 and 1975, while manufacturing output tumbled from 740 million Ugandan shillings in 1972 to 254 million shillings in 1979. At the time of their deportation Indians ...
Setting these priorities helped improve Uganda's credentials with international aid organizations and donor countries of the West, but in the first three years of Museveni's rule, coffee production remained the only economic activity inside Uganda to display consistent growth and resilience. [2] In 1987 GDP rose 4.5 percent above the 1986 level ...
The per capita income in Uganda in 1999 was approximately US$650 annually. [1] In 2013, an estimated 19.5 percent of the 35 million Ugandans lived on less than US$1.00 per day. [1] [2] Compiled here is a list of individuals in Uganda whose accumulated assets are known to be markedly
There are a number of newspapers in Uganda today. New Vision is Uganda's leading English daily newspaper. It is a state-owned newspaper and has the largest nationwide circulation. The Daily Monitor is an independent English-language newspaper and second in circulation to the New Vision. The two papers dominate the print section of media in Uganda.