40.87% of Uganda Government Debt is Held in Shillings. 

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The Ministry of Finance reported that the percentage of total debt held in shillings was 40.87 percent, followed by that in dollars at 30.3 percent, in its Medium Term Debt Management Strategy for 2023–2027.

Information reveals that total interest payments as a percentage of GDP increased from 3.1 percent to 3.6 percent as a result of an increase in both domestic and foreign interest rates during the first half of the 2022–23 fiscal year.

Domestic debt with a one-year maturity fell to 23% from 35.7% as of December 2022, while external debt with a one-year maturity rose to 5% from 4.2% as a percentage of total debt, in line with an increase in the share of non-concessional debt to 25%.

Government has so far borrowed Shs3.2 trillion through Treasury Bills and Shs730.4b from the 20-year Treasury Bond, which brings the total to Shs5.6 trillion so far. During the period, the Ministry of Finance noted, average interest for both its domestic and external debt rose from 13.6 percent to 14.3 percent and 1.6 percent to 2.4 percent, respectively.


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