By Sekaggya Seka Moses
In a significant development, President Yoweri Museveni has appointed Michael Atingi-Ego as the new Governor of the Bank of Uganda, with Prof. Augustus Nuwagaba named as his Deputy.
This appointment comes nearly three years after the passing of former Governor Emmanuel Tumusiime-Mutebile in January 2022.
Atingi-Ego, a seasoned economist with extensive experience in central banking and financial policy, has been serving as the Deputy Governor of the Bank of Uganda since August 2020. Previously, he held key positions at the Bank of Uganda, including Executive Director of Research.
He also worked with the International Monetary Fund (IMF) as Deputy Director of the African Department, based in Washington, DC.
Atingi-Ego holds a Bachelor’s degree in Economics from Makerere University, a Master’s degree in Economics from Cardiff Business School in the UK, and a Ph.D. in Economics from the University of Liverpool, also in the UK.
Prof. Augustus Nuwagaba, the new Deputy Governor, brings a wealth of experience in economic transformation and wealth creation in Africa.
He has worked intensively in analyzing fiscal metrics for governments in Africa and has provided specialized consulting services to various governments and institutions.
Prof. Nuwagaba is a renowned expert in monetary policy and financial sector development.
He has worked as a consultant for the African Peer Review Mechanism under NEPAD and was a member of the African Regional Panel of Experts on Development.
He is also a member of the World Bank Consultative Group that developed the African Plan of Action.
The appointments are subject to vetting by the Ugandan parliament. Atingi-Ego’s extensive experience in monetary policy and financial stability is expected to provide continuity and confidence in the central bank’s strategies.
Nuwagaba’s expertise in economic transformation is anticipated to complement the bank’s efforts in fostering inclusive growth and financial sector development.
The Bank of Uganda plays a critical role in maintaining price stability, promoting financial stability, and ensuring the soundness of the financial system.
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