Uganda: Prudential regulator issues credit relief measures to mitigate COVID-19 economic impacts

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The Bank of Uganda has introduced credit relief measures to mitigate the adverse effects of the COVID-19 pandemic. The relief measures are also aimed at promoting financial and operational resilience during these exceptional times.

The measures include repayment holidays for a maximum of 12 months, loan tenor extensions, and any other forms of debt restructuring covered in existing Regulations.

Also as part of the measures, prepayment of arrears as a condition for restructuring a credit facility is suspended for 12 months with effect from April 1, 2020.

Photo Credit: Pixabay

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