The extension of the moratoriums will widen the gap with the other European countries as regards the use of measures of this kind – on the one hand, they can benefit debtors but, on the other, they render banks’ balance sheets less transparent.
During the 1970s and 1980s the Bank suffered, along with the rest of Ugandan society, from political and economic turbulence and the breakdown of governance. Our first Governor, Dr. Joseph Mary Mubiru, was abducted and murdered in 1971, a fate he shared with tens of thousands of his fellow citizens. We honour his memory every year with the Joseph Mubiru Memorial Lecture.