(Bloomberg) -- Uganda's Ministry of Finance said the country planned to sell an extra 380 billion shillings ($103 million) in notes to fund the Ministry of Defense.
The money is required immediately and can't be raised through tax collection or foreign bond sales, the Ministry of Finance said in a statement on Uganda's parliamentary website. The reasons the funding is needed are classified, according to the statement.
With the extra issuance, net domestic financing is expected to rise to 2.16 trillion shillings from the 1.78 trillion shillings that was approved in the budget, the ministry said.
To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net
To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, ;Gordon Bell at gbell16@bloomberg.net, Helen Nyambura, Renee Bonorchis
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