(Bloomberg) -- Uganda’s Ministry of Finance said the country planned to sell an extra 380 billion shillings ($103 million) in notes to fund the Ministry of Defense.
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The money is required immediately and can’t be raised through tax collection or foreign bond sales, the Ministry of Finance said in a statement on Uganda’s parliamentary website. The reasons the funding is needed are classified, according to the statement.
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With the extra issuance, net domestic financing is expected to rise to 2.16 trillion shillings from the 1.78 trillion shillings that was approved in the budget, the ministry said.
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