Uganda, April 11 -- Growth in shilling-denominated loans moderated to 9.1 per cent in April down from 9.6 per cent in the quarter that ended February 2024, according to the State of the Economy report by the Bank of Uganda.

However, the central bank said during the same period, growth in foreign currency-denominated loans increased to 6.4 per cent from 3.3 per cent.

Total credit extensions rose in the three months to January 2024 to Shs 5.3 trillion from Shs 4.7 trillion in the three months to October 2023, while recoveries rose to Shs 4.7 trillion from 3.9 trillion over the same period.

"Demand for and supply of credit declined to Shs 5.3 trillion and Shs 3.4 trillion in the three months to January 2024 from Shs 5.9 trillion and Shs 3...