Ugandan finance minister calls for calm as shilling slides
Government official urges households to prioritise essential expenditure after currency hits historic low
Uganda’s finance minister has called for his country’s citizens to “remain calm, avoid panic-driven decisions and make informed financial choices” regarding the severe depreciation of the currency.
In a statement to parliament on October 27, Henry Musasizi said: “The message of my ministry is clear: let us avoid panic buying of foreign currency, speculative transactions driven by rumours and other behaviour that can amplify short-term pressure on the shilling.”
The shilling has weakened by 18%
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