MUSEVENI HITS BACK AT WORLD BANK FOR HALTING NEW LOANS TO UGANDA
According to the president, many of the loans in the past were being carelessly entered into by officials behind his back when they were completely unnecessary.
By Our Reporter
KAMPALA: President Yoweri Kaguta Museveni says Uganda will develop with or without the loans.
Museveni was responding to the press statement released by the World Bank on halting its new loans to Uganda over anti-gay law.
‘’Last night an official from the World Bank rang me to alert me about the statement from that Bank regarding the suspension of any new requests from Uganda for loans. I want to inform everybody, starting with Ugandans, that Uganda will develop with or without loans,’’ Museveni said in a statement.
According to the president, many of the loans in the past were being carelessly entered into by officials behind his back when they were completely unnecessary.
‘’I put down my foot and forbade agreeing to any loan before my approval and we are now borrowing less and cautiously,’’ he said, adding that the Uganda’s economy is growing, and if there is absolute need for borrowing, there are a number of nonBretton Woods sources from where we can borrow.
Museveni also states that the country’s first oil will start flowing by 2025 and that will be an additional source of state revenues and also financial flow into the economy.
‘’With discipline, patriotism and combating corruption, we shall thrive because our agriculture is there, our industries are growing and our services sector is expanding,’’ he said, adding ‘’It is, therefore, unfortunate that the World Bank and other actors dare want to coerce us into abandoning our faith, culture, principles and sovereignty, using money.’’
Museveni asserts that he has 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 recruiting or coercing others into your deviance, that is targeted by the law. If there are any residual illogicalities in the law, we shall identify them and handle them ourselves like we fought Idi Amin,’’ he vows.
Museveni says they do not need pressure from anybody to know how to solve problems in their society, noting that whites are Africa’s problems and they shall continue to talk with the World Bank so that they both avoid this diversion if possible.
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