Report on Public Debt (Domestic and External Loans), Guarantees, Other Financial Liabilities and Grants for Financial Year 2014/15
Total Page:16
File Type:pdf, Size:1020Kb
The Republic of Uganda REPORT ON PUBLIC DEBT (DOMESTIC AND EXTERNAL LOANS), GUARANTEES, OTHER FINANCIAL LIABILITIES AND GRANTS FOR FINANCIAL YEAR 2014/15 Presented to Parliament by Hon. Matia Kasaija Minister for Finance, Planning and Economic Development 1st April 2015 The Republic of Uganda REPORT ON PUBLIC DEBT (DOMESTIC AND EXTERNAL LOANS), GUARANTEES, OTHER FINANCIAL LIABILITIES AND GRANTS FOR FINANCIAL YEAR 2014/15 Presented to Parliament by Hon. Matia Kasaija Minister for Finance, Planning and Economic Development 1st April 2015 Report On Public DebtReport (Domestic On Public And Debt External (Domestic Loans), And Guarantees, External Loans), Other FinancialGuarantees, Liabilities Other Financial And Grants Liabilities For Financial And Grants Year 2014/15For FinancialPage Year 2014/15 | Table of Contents List of Tables ................................................................................................................................................................. iii List of Charts ................................................................................................................................................................. iv List of Acronyms .............................................................................................................................................................v 1.0 Executve Summary ................................................................................................................................................1 2.0 Background .............................................................................................................................................................2 3.0 Government ndebtedness ......................................................................................................................................3 3.1 External Debt ...................................................................................................................................................4 3.1.1 External Debt by Source.........................................................................................................................4 3.1.2 External Debt Trends. .............................................................................................................................5 3.1.3 Commitment fees paid out ...................................................................................................................5 3.1.4 External Debt by Creditor ......................................................................................................................6 3.1.5 External Debt Service .............................................................................................................................8 3.2 Domestic debt ..................................................................................................................................................8 3.2.1 Domestic Debt by type and tenure .........................................................................................................9 3.2.2 New Domestic debt issued by type and tenure during FY 2014/15 as at end February 2015............... 9 3.2.3 Domestic Debt Trends FY 2011/12- FY 2014/15 .................................................................................10 3.2.4 Domestic Debt Service FY 2014/15 .....................................................................................................10 3.3 Public Debt Sustainability .............................................................................................................................11 3.3.1 Debt Sustainability Stance as end June 2014. ......................................................................................11 4.0 New External Fnancng ……………............................................................................…………..………… 13 4.1 Trends in new external resources ………………………..............................................................................13 4.2 New Loans Approved by Parliament in FY 2014/15 .....................................................................................13 4.2.1 Status of pipeline projects ....................................................................................................................14 4.2.2 New Loan Commitments by Sector .....................................................................................................15 4.2.3 New Loan commitments by Creditor …………………...............................................................….. 16 4.2.4 Trends in New Loans approved ...........................................................................................................16 4.2.5 The Creditor Terms as at end February 2015 .......................................................................................17 4.3 Grant Agreements Concluded in FY 2014/15 as at end February 2015 ........................................................18 4.3.1 New Grants concluded by Sector FY 2014/15 .....................................................................................19 4.3.2 New Grants concluded by Development Partners ………......................................................……… 20 4.3.3 Trends in the New Grants Concluded...................................................................................................21 5.0 Government Guarantees …………………………………………………………..............................................22 5.1 Contingent Liability and Public Private Partnerships………………........................................................... 22 5.1.1 Estimates of Explicit Contingent Liabilities………………………………........................................ 22 5.1.2 Status of PPPs …………………………………………………………………………..................... 22 5.1.3 Progress of on-going project ……………………………………………………............................... 22 6.0 Techncal Assstance ..............................................................................................................................................24 7.0 Performance and achevement of objectves of Development Assstance ........................................................26 7.1 Financial Performance of Development Assistance ......................................................................................26 7.1.1 Budgeted External resources vs Actual Disbursements .......................................................................26 7.2 Grant Disbursements by Development Partner .............................................................................................27 7.2.1 Grant Disbursements by Development Partner ....................................................................................27 7.2.2 Grant Disbursements by Sector ............................................................................................................28 7.2.3 Grant Disbursements by Trends ...........................................................................................................28 7.3 Loan Disbursements ......................................................................................................................................28 7.3.1 Loan Disbursements by Sectors ...........................................................................................................29 7.3.2 Loan Disbursements by Creditors ........................................................................................................29 7.3.3 Loan Disbursement Trends by Creditor FY 2009/10- FY 2014/15 ......................................................30 7.4 Alignment of Development Assistance to the NDP .......................................................................................30 8.0 Development Assstance Managed outsde Govt systems …................................................................…….... 32 8.1 Off Budget Disbursements by Sector......................................................................................................................32 8.2 Off Budget Disbursement by Development Partner ...............................................................................................33 9.0 Concluson ……………………………………………………………………………….................................... 34 Annex 1: External Debt Stock as of 28th February 2015 .........................................................................................36 Annex 2: Loan Inventory and Utlsaton .................................................................................................................43 Annex 3: Medum Term Expendture Fscal Frame Work FY 2014/15 – FY 2018/19 ..........................................58 Annex 4: Projects managed outsde Government Systems FY 2014/15 – FY 2018/19 .........................................66 Annex 5: Fscal LTEF table used durng the December 2014 DSA Exercse .........................................................75 Annex 6: Lst of ppelne projects used durng the December 2014 DSA Exercse ...............................................76 Annex 7: Contngent Labltes from major PPPs over the Medum Term .........................................................80 Report On | Public Page Debt (DomesticReport And On PublicExternal Debt Loans), (Domestic Guarantees, And ExternalOther Financial Loans), LiabilitiesGuarantees, AndOther Grants Financial For Financial Liabilities Year And 2014/15 Grants For Financial Year 2014/15 List of Tables Table 1: Total Public Debt by source category at end February 2015 Table 2: External Debt stock by source as at end February 2015 Table 3: Stock of External