Browsing: uganda Central Bank

Uganda’s parliament has tabled a motion to cut the powers of the Central Bank’s Governor and in effect the powers of the Bank itself, a move that, shall we say, aims to clip the Crane’s wings.

For those who do not know, the animal symbol for Uganda is the Crane.  Majestic and rare to Uganda, the grey crowned crane represents the symbol of wealth, hope and fidelity. The crane appears on the national flag as well as on the country’s official coat of arms. The crane adorns several of the country’s currency and coins minted by the Central Bank of Uganda.

A private Member’s Bill was tabled recently and the details therein, “...seek to amend the Constitution as a way of streamlining the management of the Central Bank,” according to local news.

Termed the Constitutional Amendment Bill, 2020, it was tabled before Parliament during a plenary sitting and was subsequently…