Economists have asked the government of Uganda to use the IMF grant for social protection interventions.
The Executive Director Center for Budget and Tax Policy, Patrick Katabazi says it will be prudent for the government to invest such funds in support for vulnerable communities hardest-hit by the effects of the COVID-19 pandemic.
This week, the International Monitory Fund approved the grant that’s equivalent to about Shs1.8 trillion to help Uganda mitigate the impact of the COVID-19 pandemic on the economy.
In a press statement, the IMF’s Executive Board Deputy Managing Director and Acting Chair, Tao Zhang, indicated that the global COVID-19 pandemic is expected to severely hit the Ugandan economy through several channels, with detrimental effects on economic activity and social indicators.
Katabazi, therefore, calls on the government to consider allocating the funds to areas such as the Senior Citizens’ Grant to reach more vulnerable populations.