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Today in History: When Idi Amin Ordered His Minister to Print Money to Save Uganda’s Economy

Michael OwinobyMichael Owino
September 12, 2025
Reading Time: 4 mins read
Idi Amin Orders Printing Of More Money Amid Collapse Of Uganda’s Economy

Photo of the late Ugandan President Idi Amin. PHOTO/VOA Africa

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Idi Amin was in charge of Uganda for nearly nine years, from January 25, 1971, when he ousted President Milton Obote in a military coup, to April 11, 1979, when he was forced out by Tanzanian troops and Ugandan exiles during the Uganda-Tanzania War.

During his reign, Amin ruled with terror, leading to major human rights violations, political oppression, and violence.

Beyond his brutal leadership, Uganda’s economy suffered due to poor policies, including the mass expulsion of Asian people in 1972.

Idi Amin Expels Asians from Uganda

In August 1972, Amin expelled about 50,000 to 70,000 Asians of Indian and Pakistani descent, accusing them of economic sabotage, being corrupt, and not being loyal. He claimed they were exploiting Ugandans while sending profits abroad.

Amin gave them 90 days to leave, taking their businesses, homes, and assets to transfer them to Ugandans.

The expelled Asians had been crucial to Uganda’s economy, which involved trade, industry, and banking.

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Also Read: Today in History: When Alfred Mutua Called Obama a ‘Junior Senator’ After He Visited Kenya


After they left, their businesses were taken over by Amin’s supporters, many of whom were unfamiliar with the management of enterprises. 

This led to the failure of many businesses, causing shortages of goods, a reduced ability to export, and a collapse of financial services. Agriculture and cash crop production also fell as supply chains broke down.

Corruption and poor management under Amin’s “Ugandanisation” policy worsened the crisis, and foreign investors started to leave Uganda.

Amin Orders More Money to be Printed

By the late 1970s, Uganda was almost broke, facing hyperinflation, widespread poverty, and isolation from the international community.

To cover rising government costs, Idi Amin ordered his Ministry of Finance to print more money, doubling the cash supply between 1976 and 1978.

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A report from The Washington Post states that Amin personally asked a British money-printing company to print extra Ugandan currency.

A British agent shared that he discussed a contract to print 2 million shillings worth of 100-shilling notes directly with Amin. When the agent asked how he would be paid, Amin angrily replied, “Print 3 million and take 1 million for yourself.”

This decision caused hyperinflation, with prices for essentials like sugar, shoes, fuel, and clothing rising far beyond what ordinary Ugandans could afford.


Also Read: Today in History: When Mandela Fired Back at US for Criticizing His Relationships with Gaddafi, Castro and Arafat


Meanwhile, government officials and their allies wasted state money—stealing from banks, taking foreign currency abroad, and mismanaging businesses taken over after the Asians left. Half of the national budget went to defense, while social services were cut by more than 70 percent.

Important export crops like cotton, sugar, and coffee failed, forcing many farmers to rely on subsistence farming or smuggle goods into Kenya and Rwanda.

By the time Amin was removed from power in 1979, Uganda was deeply in debt, with destroyed industries, leaving its citizens to survive through black markets, bribery, and their resilience.

Follow our WhatsApp Channel and X Account for real-time news updates.

Idi Amin Orders Printing Of More Money Amid Collapse Of Uganda’s Economy
Photo of former Ugandan President Idi Amin Dada. PHOTO/The Criterion Collection
Tags: Idi Aminprinting of more moneyUganda's economy
Michael Owino

Michael Owino

Mr. Michael Owino is a Multimedia journalist and Voice Over artist with a Bachelor of Arts in Journalism and Mass Communication. He strives to bring stories to life through a variety of mediums. His primary interests lie in Technology and other human-interest stories.

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