Sound, Fiat, and Digital Money: Uganda's Decisive Policy Choices

Abstract

This purposive documentary and conceptual study, with policy recommendations, analyzes Uganda’s monetary setting as it stood in 2026 and separates three objects: sound money, the shilling, and mobile-money balances. Mawejje and Lakuma (2019), Katusiime (2021), and Bindseil (2026) supply the published results, which the author sets against partial deregulation in Argentina, El Salvador, and Panama. The paper recommends currency competition in the sense Hayek stated, so that parties are free to choose the shilling or any other medium they prefer, while legal tender would bind the state and would not void a private contract, public debt would be repaid inside the term of the officials who signed it, and payment services would be priced as services.