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Uganda Not Worried China Will Seize Assets Over Rising Debt

Uganda's growing debt is sustainable, and the country is not at risk of losing state assets to China, the country's finance minister, Matia Kasaija, said this week. Uganda's auditor-general warned in a report released this month that public debt from June 2017 to 2018 had increased from $9.1 billion to $11.1 billion. The report — without naming China — warned that conditions placed on major loans were a threat to Uganda's sovereign assets.  It said that in some loans, Uganda had agreed to waive sovereignty over properties if it defaults on the debt — a possibility that Kasaija rejected. "China taking over assets? … in Uganda, I have told you, as long as some of us are still in charge, unless there is really a catastrophe, and which I don't see at all, that will make this economy going behind. So, ... I'm not worried about China taking assets. They... If you wish to read this full breaking news headline article, Uganda Not Worried China Will Seize Assets Over Rising Debt, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'VOA NEWS'. Thank you Uganda Not Worried China Will Seize Assets Over Rising Debt

 

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