“The economy is growing. The other day, I had some arguments about whether we have gone to middle income or not. We reaffirm. I do not know where the World Bank is getting their data from” – President Yoweri Kaguta Museveni (14.07.2022).
The former donor darling of the West and the Self-Styled President for Life, Yoweri Tibuhurwa Kaguta Museveni has yet again signalled the World Bank. That comes after the bank dismisses the claims of have becoming a “Middle-Income Country”. The Government of Uganda and it’s agency cannot trick the World Bank and their standards. Museveni can hoodwink his supporters and his fellow associates. However, the World Bank… not so much.
President Museveni is the sort of man that makes his own rules along with where his walking. His not the sort of fella to follow it himself, but expect everyone around to comply. He can talk of ethics and moral rights, but breach them himself on a regular. Secondly, laws and rules are for others to follow. He himself, not so much.
That’s why when there is stipulations and mechanisms for giving the stature of Middle Income Country from the World Bank. The Government of Uganda, and it’s Ministries should work to achieve that. Not just throwing numbers at the wall and hoping it sticks. That’s how this looks like. His just using figures and imprinted numbers to look extravagant. When the President should know that his far from achieving it.
The Republic cannot build a road without a loan, donation or sort of scheme to ensure funding to make it happen. The aid agencies has to come and intervene on the basics of structures. The bloated government structure is eating of the funds, the massive parliament and it’s expenses in combination of the State House and the Office of the Presidency. Is all accounts, which is having huge expenses, but not generating any sort of generational wealth or influx of foreign exchange into the economy. However, that is just draining the state budgets together with the interests on old loans and the growing debt ratio of the state. So, with that in mind….
I don’t know where his figuring out at the year of 2022 that the Republic has become a Middle-Income Country. Because, there is no signs of it. Unless, he has a screw loose or just wants to prove that he achieved something. Even if he sleep-walked to the destination and was more pre-occupied with destroying his political enemies. If the state has used half of the energy and resources it uses on locking up, monitoring and detaining political opponents. Maybe, it would have a shot of a better economy, but it is instead building prisons and buying tear-gas.
That’s why Museveni just making up the rules as he walks along. He thinks that’s how the world works, because he has done that for over 3 decades now. As President he has gotten away with it too and with little to no consequence. However, in this regard.. don’t expect the World Bank to budge. Because, Museveni needs the World Bank more than the World Bank need him. His a debtor and a man who needs grants from the World Bank. It is not the World Bank that needs validation from Museveni.
This is why this enterprise is futile. He cannot bushwhack this one. He cannot trick it and make it work. The shilling is the shilling. The economy and the finances is as dire as the people say they are. The Deficit financing and the lack of domestic revenue is a proof of that. His made up numbers and schemes to get grandeur isn’t helping either.
Museveni, you can chill on your farm and look after livestock. The sort of game your playing is only making a fool of yourself. So, do you want another rap? Peace.