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.
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.
