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Archive for the tag “East Arica”

Bank of Uganda: Monetary Policy Statement for October 2019 (07.10.2019)

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Uganda: Fresh report states that the debt-service has grown 129% within one financial year!

 

The Republic of Uganda’s economy is really reeling, it cannot be sustainable as the Government of Uganda is growing their debt like there is no tomorrow. While the fiscal growth is substantially lower than their rate of debt-service. As the growth of debt combined with lacking growth to substantiate the shortfall.

In addition, with the knowledge of added expenses, growing shortfall of funds in the upcoming Financial Year of 2019/20 and the election year of FY 2020/21. There will be more add-ons on the need for debt service, as the state already had loans outstanding, which the grace period ends and the debt-service begins on. Therefore, the amount of loans will transpire even more, than what is in this report. The endless cycle of debt and growth of it, is worrying, as well, as the state thinks that the magical wand of oil-money will clear this debt. Even as the first operational oil field and such has been postponed yet again.

Just look!

“The total Government of Uganda external debt service by end of FY 2017/18 amounted to US$275.75 million, which was an increment of l29% compared to US$120.62 million in FY 2016/17” (…) “Debt service of Uganda’s external debt is on the rise and outstripping growth of the country’s income, currently at 6%. This poses risks for future debt repayments, especially as the country continues to acquire external debt at less concessional terms, especially to finance the oil development programme” (P: 6-7, 2019)

“It follows that as interest rates increase, the debt service obligations of Government also increases. The rise in external debt interest costs attests to the fact the government is increasingly contracting non-concessional debt, which will increase the repayment burden” (P: 24, 2019)

“However, this may not be the most likely scenario, as most projects have been discounted and some excluded in the macroeconomic framework. With the development of the NDP III, additional project and other pipeline project related to the oil developments and other infrastructure, will increase the financing requirement of government in the medium term. The inclusion of the above projects will re-classify Uganda from low risk of debt distress to moderate risk of debt distress or high risk if the export shocks materialize. A downgrade would have significant implications for the program with the IMF, where Uganda’s credit risk rating will worsen; implying that accessibility of nonconcessional financing will be limited. This will limit credit to Uganda to only concessional and grants financing.” (P: 28, 2019)

You don’t need to smart about it, as the state has bigger budgets with higher shortfall in the economy, combined with debt service and higher interest payments on the growing amount of loans. You know sooner or later, the economy will tank, as the fiscal responsibility is taken for granted and that fresh funds are lacking, because these are taken out of the economy to finance the payments of the old debts. Instead of generating growth and actually naturally grow the economy, by spending and investing as a state. The money is taken away to service debt, instead of building the state. That is what they are doing and at a alarming rate. Peace.

Reference:

NEC1-19 – ‘REPORT OF THE COMMITTEE ON NATIONAL ECONOMY ON THE STATE OF INDEBTEDNESS, GRANTS AND GUARANTEES’ June 2019, Parliament of Uganda

Uganda Peoples Congress: Caution on Coffee Bill (17.07.2019)

Bank of Uganda: Monetary Policy Statement for April 2019 (01.04.2019)

Bank of Uganda: Monetary Policy Statement for February 2019 (07.02.2019)

Preparation for General Election 2020/21: When these budget posts are served extra-funds!

As we are aware and since the National Resistance Movement (NRM) dropped their Road Map for the General Election of 2020/21, the whole system has started to flair up for it. Both with Electoral Reforms and other measures, to secure swift results in favour of the President and secure his cronies. That is just the way it is.

As we will see in the Budget Framework Paper for Financial Year 2019/2020, the government and their agencies are clearly gearing up for elections. As the NRM wants to make sure the appointed and anointed get their cut ahead of scheduled elections.

The first ones whose secured and getting well funded is the Residential District Commanders, they are getting 5,5bn shillings to promote government policies. There is also estimated right before the elections, the state will go from 128 districts in 2018/19 to 135 districts in 2019/2020, there the state has to use more on them just for the need of new RDCs too.

To give RDCs possibility to do their work, the Office of the President has asked for 25.4bn shillings to buy 165 Double Cabin Pickups, but there is only small fry for what is coming up.

The State House itself is gearing up, as the Office of President has asked for an allocation of 741.1bn shillings.. Just to give a feeling of the changes of gear, is that in National Budget Framework for Financial Year 2018/19, alone, the State House got 265,342bn shillings. We can see a significant change ahead of the coming elections.

To top it off, the logistical support, welfare and security to H.E the President, Vice President require 118.38bn shillings. Therefore, the Presidency, the State House and everything concerning that is much more expensive in Election Times and ahead of campaigns. As proven by the Report delivered to the Parliament.

This are just small pieces of what the Committee and what Jesca Ababiku MP delivered the Parliament, as requested to secure funding and also more funds to certain aspects. As it is fitting the elections and the timing for more cash to certain places. We saw it before the General Election in 2016 and is seeing it now. Repeating itself, getting budget for cars and more expenses paid. More funding to the State House and President. Just as programmed. To think otherwise is to be blind to what is up.

This is just what they do, not building institutions or such, but buying to time to linger in Office. Peace.

Reference:

REPORT OF THE COMMITTEE ON PRESIDENTIAL AFFAIRS ON THE BUDGET FRAMEWORIT FOR F’Y 2OL9/12O – 2023/2024, Parliament of Uganda, January 2019

President Museveni letter to Hon Matia Kasaija: “Re: Massive Tax Evasion and Concealment of Rental Tax” (23.11.2018)

Mzee is halting the creation of new districts: Only to do it right before next General Election!

It is a hard time taking President Yoweri Kaguta Museveni serious, when he comments like today about creating districts. As he is the King of creating these, he has made a dozens in his span of Presidency. Museveni when he took power in 1986, there was 33 districts and by the o’clock 2018, there is registered 127 districts. Therefore, the map of districts and Local Government institutions have become a hectic mess.

That he is asking for halting today, only comes as a sign, that he wants to save of the funding and creations right before the next General Elections. Like he usually does. It is hectic to do it in the midst of term, but do it by the end. Also, as a way to sponge cronies and mend old wounds. Is a better way, than openly bribing during mid-terms like now.

About creation of districts, some of them were created because of ethnicity and others for geographical reasons like Moyo and Adjumani which are separated by water. But some people now want districts for greedy reasons. We can halt creation of districts for some years if we agree. We are spending 40% of the budget on the wage and administrative bills. They can wait till we have more money” (Yoweri Kaguta Museveni, 09.11.2018).

So, when you see that within the basis of 32 years rule. That he has in general created 2,9 or 3 district per year. This shows the intent to carve up the districts and bases, as a political game and also sufficiently make the local government bases so small. That the President easily manipulate and stipulate the results. Especially carve into districts where there is a huge opposition, or where he needs more support. As he lacks the basics of ordinary state delivery and even good governance.

That is usual end-game and most likely this time too. As there are already talks of carving up other districts, like Kasese and Budama (Tororo County) Districts, which has speculations about. Nothing is carved out yet, but there are plans to do so. That is why even Members of Parliament and local politicians has made plans in these districts. Now, the President calls them out.

However, he is the man that has made races and made it a goal to make small benign districts out of everywhere. That is why there is race to become of one of the three, every year made by the President. They want to get a slice too and that shouldn’t be shocking for anyone. Peace.

Resident District Commanders Re-Shuffle: A list of Honourable Mentions! (October Edition) Part II

I just had to go over the list of one more time, as there are plenty of names and figures in it. The Residential District Commanders are the ones whose supposed to implement the government agenda. That is why they are there as appointed officials, which the President directly put forward their agenda for their work and also oversee the elected officials and civil service there. That is why the manner and the acts of the RDCs could be important, as they are the ones reporting to the President.

For instance the former Kitgum RDC Captain Okot Santos Lapolo are re-appointed for the Gulu District, which has been a career RDC first for over 12 years in Kitgum, before he has now been in Gulu since 2016. In early February 2018, he closed Radio Mara as he ordered the arrest of Choice FM editor there.

The Fred Bamwine, the former RDC of Nakawa, Rubaga, Bukiwe, Butambala and Ntungamo has now been appointed as the RDC of Mukono. He has addressed the amount of Ghost Workers in Ntungamo District in 2014. He is a career RDC, whose been often moved and not worked long. As shown by all the districts he has worked in, in 2017 he said: “What happens to districts that don’t get certificates of compliance so that they don’t do the same things,” (CSBAG – ‘Poor infrastructure, weak accountability hurting Local gov’t service delivery’ – CSOs, 18.09.2017).

The Former FDC Deputy Speaker of Kumi, Ambrose Oronia, gone from being a Deputy RDC of Amuria and is appointed to be RDC of Ngora district. She went from the FDC to NRM because she “wanted to serve the people”. That was back in 2008.

The newly appointed Rukungiri RDC Dan Kaguta is the former Wakiso District RDC. Kaguta has been called the brain behind the NSSF Bribe case of the IGG in the 2014, where he was an accomplice with Jane Mpeirwe. Back in 2012, he was involved in possible extortion of the KCCA. So this man has a record himself and been steady in questionable cases, however, that doesn’t stop the President from not appointing him.

Then there was Wilberforce Tukei, who lost the NRM Primaries in 2015 to become the NRM MP Flagbearer for the Bukedea district. He is now appointed as the RDC of Soroti District. He is the former LCV Chairman of Bukedea. Wilberforce has also fallen out with Rose Akol in 2015.

Richard Andama Ferua has been taken with forged academic papers (2006), jailed over rental arrears (2011) and jailed for debt in 2016. The former Arua LCV Chairman are now appointed to become the RDC of Yumbe District.

Then you have Maj. Ret. David Matovu, who is the former RDC of Mukono and Masindi. Before that he has been appointed as early as in 2008 by the President to be Chairman of the University Council at Makerere University.

In 2006 was the former Adjumani District Chairman Nixon Owole freed after being jailed for defilement. He has also been the LCV Chairman of the same district since. He is now appointed the RDC of Tororo.

This was just 8 more persons on the long list of appointed RDCs. Therefore, hope more people scan through and shows the past of the people, that Bosco put his trust in. Peace.

Resident District Commanders Re-Shuffle: A list of Honourable Mentions! (October Edition)

Again, there is shuffles within the Residential District Commanders, which not to long ago, he bitched about their uselessness, however, with that in mind. He still uses them and has them in his upkeep of his growing state apparatus, which he controls with an iron fist. Today, the list of the shuffles was released to the public. This changes was sanctioned by Bosco on the 30th September 2018, but is public now on the 3rd October 2018.

Former Tororo RDC Martin Oroch is moved from there to Budaka district, he is famous for saying this in July 2016: “He stressed that some of the students are in advanced stages of HIV/Aids so parents should not “waste their resources” on them. “I have heard about situations where parents have wasted resources to raise tuition and before completing university education, they [students] die. Parents should be aware of their children’ status before undertaking risks,” Mr Oroch said amid boos from parents and students” (Joseph Omollo – ‘Don’t take HIV-positive children to university – RDC’ 10.07.2016, Daily Monitor).

The Former Flying Squad Commandant Herbert Muhangi is now assigned as the RDC of Isingiro. Darius Nandinda continues as the RDC in Kabale, where his bodyguard earlier this year shot a civilian. Because of his loyal contribution through the election period, where his orders was to seal of a local radio station in 2015 and arrest panellist who differs from the stance of the government.

Lt. Joe Walusimbi is moved from Masaka and reassigned to Kasese district, one of the things done while his tenure in Masaka, was to close down the Mutesa 1 University after student riots in 2017. There has also been Taxi Strikes in 2017, as the local authorities has issued an illegal tax on them. Therefore, it is interesting times ahead for Kasese.

The former deputy RDC of Kasese Aminadabu Muhindo has been reassigned to Kiruhura district. This man is famous and infamous for working directly for the NRM Program, to an extent where he has warned radio presenters, parents to keep their properly for schools and engaging the army for the Kasese attacks on the Rwenzururu Kingdom. Therefore, this man will do whatever it takes to please the government. He is also a director and a board member for the Kilembe Investments Limited (K.I.L).

The former RDC of Kasese Maj. James Mwesigye have also gotten reassigned to Mbarara district. So the ones overseeing the Kasese skirmishes and clashes have been moved without any injury.

This are just a few on the massive list, but how easy it was to find weird and special events concerning this promoted individuals or re-assigned, is if the crimes or questionable behaviour would have demoted someone had been natural. Not be re-assigned to another district. Peace.

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