The Republic of Uganda
MINISTRY OF FINANCE, PLANNING AND ECONOMIC DEVELOPMENT
REPORT ON PUBLIC DEBT, GRANTS AND GUARANTEES FOR FINANCIAL YEAR 2013/14
Presented to Parliament By
HON. MARIA KIWANUKA Minister for Finance, Planning and Economic Development
12th June 2014
Report on Public Debt, Grants and Guarantees for Financial Year 2013/14 1
The Republic of Uganda
MINISTRY OF FINANCE, PLANNING AND ECONOMIC DEVELOPMENT
REPORT ON PUBLIC DEBT, GRANTS AND GUARANTEES FOR FINANCIAL YEAR 2013/14
Presented to Parliament By
HON. MARIA KIWANUKA Minister for Finance, Planning and Economic Development
12th June 2014
Report on Public Debt, Grants and Guarantees for Financial Year 2013/14 i Table of Contents List of Tables iii List of Charts iv List of Acronyms v 1.0 Executive Summary 1 2.0 Background 3 3.0 Government Indebtedness 5 3.1 External Debt 5 3.1.1 External debt by Source 6 3.1.2 External Debt Trends 6 3.1.3 External Debt by Creditor 7 3.1.4 External Debt Service 9 3.2 Domestic Debt 10 3.2.1 Domestic Debt by type by tenure 11 3.2.2 New Domestic Debt issued during FY 2013/14 as of end March 2014 11 3.2.3 Domestic Debt Trends FY 2010/11 – 2013/14 11 3.2.4 Domestic Debt Service FY 2013/14 12 3.3 Public Debt Sustainability 11 4.0 New External Financing 14 4.1 New Loans Approved by Parliament in FY 2013/14 14 4.1.1 New Loan Commitments by Sector 17 4.1.2 New Loan Commitments by Creditors 17 4.1.3 Trends in New Loans Approved (Amounts in USD million) 17 4.2 Grant Agreements concluded in FY 2013/ 14 19 4.2.1 New Grants concluded by Sector FY 2013/14 20 4.2.2 New Grants concluded by Development Partners 20 4.2.3 Trends in the New Grants Concluded. 21 5.0 Government Guarantees 22 6.0 Technical Assistance 23 7.0 Performance and Achievements of Objectives of Development Assistance 24 7.1 Financial Performance of Development Assistance 24 7.1.1 Budgeted External Support vs Actual Disbursements 24 7.1.2 Grant Disbursements 25 7.1.2.1 Grants Disbursements by Development Partner 25 7.1.2.2 Grants Disbursements by Sector 26 7.1.2.3 Grants Disbursements trends 26 7.1.3 Loan Disbursements 27 7.1.3.1 Loan Disbursements by Creditor 27 7.1.3.2 Loan Disbursements by Sector 28 7.1.4 Loan Disbursement Trends 29 7.2 Development Assistance and alignment with the NDP 29 8.0 Development Assistance managed Outside Government Systems 31 8.1 Off-Budget Disbursements by Sector 31 8.2 Off Budget Disbursement by Development Partner 32 9.0 Balance of Payments 33 10.0 Conclusion 34 Annex 1: Stock of External Debt as of End March 2014 (USD) 35 Annex 2: Loan Inventory and Utilisation 51 Annex 3: Medium Term Expenditure Fiscal Frame Work FY 2014/15 – FY 2018/19 66 Annex 4: Balance of Payments Summary (US$ millions) 77 Annex 5: Exports of Goods (US$ millions) 78 Annex 6: Exports of Goods (US$ millions) 79
ii Report on Public Debt, Grants and Guarantees for Financial Year 2013/14 List of Tables
Table 1: Total Public Debt by source category at end March 2014 5 Table 2: External Debt stock by source as at end March 2014 6 Table 3: Stock of External Debt by Creditor as at end March 2014 8 Table 4: Debt Service per Creditor as at end March 2014 9 Table 5: Stock of Domestic Debt as at end March 2014 10 Table 6: Summary of Fiscal Debt Sustainability Status 12 Table 7: Summary of External Debt Sustainability Assessment 2013 13 Table 8: New loans approved by Parliament in FY 2013/14 14 Table 9: Status on Pipeline Loan Projects 16 Table 10: Creditor Terms as at end March 2014 17 Table 11: New Grants Concluded in FY 2013/14 19 Table 12: Active Government Guarantees 22 Table 13: Identified On-going Technical Assistance support for On Budget Projects 23 Table 14: Grant Disbursement trends over the period FY 2008/09 – FY 2013/14 27 Table 15: Loan Disbursements by Creditor during the FY 2013/14 27 Table 16: Loan Disbursements by Sector 28 Table 17: Implementation of the National Flagship Projects in the NDP 2010/11- 2014/15 30 Table 18: Balance