ITALY has pledged to cancel up to $116m Uganda owes to creditors in the Paris Club of donor nations, Italian ambassador to Uganda Luigi Napolitano said. The debt represented over 80% of the total Uganda owes to the club. Uganda’s total foreign debt runs at close to $4bn. But Napolitano said that for the country to remain afloat, it needed to keep capital and foreign economic operators in Uganda. This, he said, was being discouraged by Uganda’s general taxation and customs policies. – AFP