Browsing: Prof Augustus Nuwagaba

State House has responded to reports that Ugandan President Gen Yoweri Kaguta Tibuhaburwa Museveni has appointed a new Bank of Uganda (BoU) governor to replace fallen central bank boss Prof Emmanuel Tumusiime Mutebile.

I would like to put it to Ugandans that the current inflation we are experiencing is a GLOBAL PHENOMENON. It is largely IMPORTED INFLATION, caused by three factors namely: 1. Disruption in supply chains of oil products, leading to rise in prices of fuel (petrol, diesel) and gas; 2. The Russian-Ukraine conflict was unleashed on February 24 2022 to date; 3. Climate change results in drought and crop failure, hence driving HEADLINE INFLATION. The net effect of these three factors has been the soaring prices of goods and services.