Uganda’s president seeks to boost trade and rein in borrowing

UGANDA wants to curb its borrowing and boost exports in sectors such as meat and dairy as the East African country lifts restrictions triggered by the coronavirus pandemic, President Yoweri Museveni and government officials told Reuters.

Uganda’s trade push follows several years of reduced Chinese lending to the continent and as programmes designed to offer relief to indebted countries as they recover from COVID 19-induced slumps start to expire.

“Uganda can do much better without borrowing in my opinion. Especially borrowing for … budget support, balance of payments support,” Museveni said, speaking to Reuters in a tent on his private farm as a large herd of his Acholi cows wandered past.

Museveni said he wanted to expand the country’s meat, leather and dairy trade and add value to other agricultural exports such coffee, which has long been one of Uganda’s main foreign exchange earners.

“We don’t import milk, we don’t