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The Washington-based International Monetary Fund (IMF) has revealed Uganda government approached it for another loan and discussions are progressing well.

IMF spokesperson Gerry Rice yesterday revealed that Uganda requested for a three-year loan arrangement. The loan could be in the range of $900 million (about Shs 3.1 trillion), according to the journalist who asked the question.

“It’s reported that Uganda is looking for a $900 million three-year package from the IMF related to spending driven by COVID-19 response. Is that true, can you confirm it? Where does that stand?” Mathew Lee, a journalist with AP inquired.

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