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" "Fiscal deficits which are financed by the central bank through the printing of money are much more inflationary than those financed by borrowing from the market as the latter leaves the money supply unchanged.
Emmanuel Tumusiime-Mutebile was born on 27 January 1949 and he died on 23 January 2022. He was a Ugandan economist and banker. He served as the governor of the Bank of Uganda, the central bank of Uganda from 2001 until his death on 23 January 2022. He was also the chief monetary, fiscal and economic advisor to the government of Uganda.
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“That distinction falls on a select few who get that rare once-only opportunity to help set up institutions during and after the birth of a nation. Dr. Mutebile was a fortunate man. He was the right man with the right credentials who rose on account of his competence that helped cushion our economy from a state of near-collapse in the early 1990s to one where our people can only try to survive on basics of life,” said Mpuuga.