The President of Uganda, Yoweri Museveni, has again taken a dig at the World Bank and other international partners, alleging their loans have stunted the growth of African nations.
Museveni stated Thursday that the International Monetary Fund’s 2023 report placed the economies of the United States, China, India far above Africa, adding that it is shameful African countries have failed to compete favourably.
The president’s statement follows the World Banks’ decision to halt its loan package to the country following its anti-homosexuality law.
The Uganda government had approved a law that stipulates death penalty for any homosexual that transmits HIV through gay sex.
The law also imposes 20 years imprisonment on anyone involved or promoting homosexuality in the country.
Last Tuesday, the World Bank in a statement said it had stopped its loan to the country because it’s Anti-Homosexuality Act fundamentally contradicts the bank’s values.
But reacting to the World Banks’ decision, the Permanent Representative of Uganda to the United Nations, Adonia Ayebare had tweeted that the World Bank’s action was draconian.
Speaking further on Thursday, the Uganda president who has been in power since 1986, accused the World Bank and other foreign countries of further impoverishing Africa under the guise of loans.
He, however, noted that while loans can be beneficial, institutions who have a colonial mindset towards beneficiaries have allegedly worked to make it non-beneficial both to his country and other African countries.
He wrote, “Further to my message of the 9th August, 2023, I would like to reiterate that foreign aid and loans are welcome and can be of some use if designed and executed by patriots (not neo-colonial agents), but are neither decisive nor indispensable elements for our desired social-economic transformation.
“On the contrary, those loans and aid packages,can be a source of distortion and
stunted growth as you can see across Africa. If foreign aid and loans,are a source of social economic transformation, why the present growing crisis of even security and stability in Africa?
“Look at Guinea-Conakry, Mali, Burkina-Faso, Niger, Central African Republic, DRC, Boko Haram in Nigeria, Somalia, Mozambique, etc.
“Most of these Countries have been getting those grants and loans. Many of the loans and aid packages are either of no value addition to the country or are even anti growth, all together.
“Here below are the economies of some of the countries compared to that of the massive continent of ours: United States of America-$26.9 trillion, China-$19.4 trillion,Japan-$4.4 trillion, Germany-$4.3 trillion, INdia-3.7 trillion, Africa -2.9 trillion. (source IMF 2023)
“This is a big shame and the cause of the chaos in Africa: wars, hunger, African children dying.”
He explained that the World Bank and other external actors are allegedly controlling the African economy, having historically funded the civil service in some countries while influencing its political class.
He added that despite the loans, relevant institutions and countries “see no problem
with Africa, Uganda included, only producing raw materials” without producing finished products.
He maintained that his country’s stand on homosexuality will remain unchanged.
“This is why the performance of African economies is miserable.
” Hence, the recent provocation and
arrogance by the World Bank Group on a subject of the homosexuals that we have so patiently discussed with so many of those elements.
“To dare think that the Ugandans, the brothers, the sisters and grandchildren of the Christian religious Martyrs of 1884 against our own tyrannical Kings, the Martyrs of the Luwero War (the 9thof June Heroes), can be intimidated by the threat of withdrawal of loans and aid, that are, moreover, peripheral to our transformation efforts, is the epitome of mistake-making,to say the least,” he added.
Amid the development, most European Union or Western countries have legalized homosexuality while adopting a foreign policy that frowns on countries with anti-gay laws.
