By Tumwine Byaruhanga
Permanent Secretary and Secretary to the Treasury (PSST) Dr Ramathan Ggoobi has challenged officials in the Ministry of Finance’s Directorate of Debt and Cash Policy to ensure every financing decision strengthens Uganda’s long-term economic prospects while safeguarding debt sustainability.
Speaking while officiating at the Directorate’s meeting at the Ministry of Finance, Planning and Economic Development, Dr Ggoobi said rising debt servicing costs remain one of the country’s biggest fiscal challenges, limiting the Government’s ability to finance development priorities.
He noted that Uganda’s standing in international financial markets has been built on prudent debt management and urged the Directorate to protect that reputation through sound, evidence-based decision-making.
“As Uganda enters a period of accelerated economic growth, your role must evolve beyond facilitating financing transactions. You are expected to serve as Government’s strategic financial advisers, providing objective, evidence-based and courageous advice that safeguards the country’s long-term economic interests,” Dr Ggoobi said.
He tasked the Directorate with identifying emerging fiscal risks early, recommending practical solutions and preventing financial challenges from escalating.
According to the PSST, economic managers must not only respond to existing pressures but also create opportunities that support sustainable economic growth.
“Our mission is clear: protect debt sustainability, preserve macroeconomic stability, borrow prudently and only when necessary, finance high-impact investments, provide clear, objective and evidence-based advice, and uphold the highest standards of integrity and professionalism,” he said.
Dr Ggoobi’s remarks come as Uganda continues implementing its Tenfold Growth Strategy, which seeks to expand the economy through increased investment, industrialisation and value addition while maintaining fiscal discipline.
Acting Director for Debt and Cash Policy Maris Wanyera outlined the Directorate’s strategic priorities and reaffirmed its commitment to mobilising affordable financing to support the Government’s development agenda while maintaining sustainable public debt.
