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                              Uganda Can Do Without Loans – Museveni to World Bank

                              Wayuwa Kimathi by Wayuwa Kimathi
                              August 10, 2023
                              Museveni tells off World Bank over anti-homosexuality act.

                              Uganda's President Yoweri Museveni. PHOTO/Courtesy.

                              Uganda’s president Yoweri Museveni on Wednesday, August 9 told off the World Bank saying his country can develop with or without loans after the lender suspended funding. 

                              In a statement, the Ugandan leader said loans officials previously took the loans carelessly behind his back and that they were unnecessary.

                              “I want to inform everybody, starting with Ugandans, that Uganda will develop with or without the loans,” President Museveni said.

                              As a matter of fact, many of the loans in the past have been carelessly entered in, by officials behind my back where they were completely unnecessary,” he added.

                              Museveni’s remarks came after the global lender told Uganda that it would not fund the country in future following the passage of the Anti-homosexual Act. 

                              Museveni tells off World Bank over anti-homosexuality act.
                              Presidents Yoweri Museveni and Vladimir Putin. PHOTO/Courtesy.

                              Furthermore, President Museveni told Ugandans that should there be need to borrow in future, then the East African country would consider non-Bretton Woods lenders.


                              Also Read: World Bank Stops Funding for Uganda, Gives Conditions


                              Bright Future

                              The President encouraged Ugandans telling them to have in mind that they will start producing oil, which will financially strengthen their economy.

                              “Our first oil will start flowing by 2025. That will be an additional source of state revenues and more financial flows into the economy,” President Museveni said.

                              Moreover, he said that discipline, patriotism and combating corruption will help them overcome every situation.

                              According to Museveni, their position on homosexuality stands regardless of mounting pressure from various quarters.

                              “It is therefore unfortunate that the World Bank and other actors want to coerce us into abandoning our faith, culture, principles and sovereignty using money,” he said.

                              Consequently, the Uganda President said he has clarified to other funders that the law targets those people who try it recruit Ugandans who are not LGBTQ members into the practice, but not those who are already homosexuals.

                              “They really underestimate all Africans. I have patiently explained to some of the actors that merely being a homosexual is not targeted by this law.

                              It is going from being a homosexual to coercing others into your deviance that is targeted by the law,” he defended the Anti-Homosexuality Act.


                              Also Read: US Issues Travel Advisory Over Anti-LGBTQI+ Law in Uganda


                              In addition, he stated that if there are any gaps in the law, he will identify them and handle them like they did while they fought Idi Amin. 

                              “Other tyrants and extended solidarity to our brothers and sisters in southern Africa that were fighting Colonialism and Apartheid.

                              “We do not need pressure from anybody to know how solve problems in our Society,” he said. 

                               Museveni warns the Corrupt 

                              In his letter, he called out corrupt officials in government, saying they will be held accountable for their actions.

                              “Things are moving well in Uganda in spite of the corruption of some public servants and some elements of the political class. However, the corrupt will be accountable for their betrayal, and they will be weeded out.”

                              Furthermore, he said that there will be no more taking of loans unless he approves.

                              “That is why from yesterday, I put down my foot and forbid to agreeing to any loan before my approval. Hence, we are borrowing less and cautiously.”

                              About Uganda Economy

                              The President said that the economy of Uganda was thriving as they had the lowest inflation rate in the world.

                              “The private sectors in farming and manufacturing are the ones developing and transforming Uganda, in spite of the inconveniences by the corrupt officials,” the statement read.

                              Museveni tells off World Bank over anti-homosexuality act.
                              President Yoweri Museveni at G-25 Africa Summit at Munyonyo. PHOTO/Courtesy.
                              Tags: UgandaYoweri Museveni

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                              Wayuwa Kimathi

                              Wayuwa Kimathi

                              Mercy Wayuwa Kimathi is a Digital Journalist at The Kenya Times. She can be reached at mercy.kimathi@thekenyatimes.com

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                              This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
                              Necessary
                              Always Enabled
                              Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
                              Functional
                              Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
                              Performance
                              Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
                              Analytics
                              Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
                              Advertisement
                              Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
                              Others
                              Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
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