We don’t need pressure from anybody to know how to solve problems in our society – Museveni
President Yoweri Museveni has said that the country does not need pressure from anybody to know how to solve problems in “our society”
While responding to the World Bank’s decision to stop any loan request from Uganda last night, the President said Uganda does not need loans to develop.
“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,” the President said.
According to the President, the country’s private sector in farming and manufacturing are the ones developing and transforming Uganda.
This he said is in spite of the inconsistencies by the “corrupt officials”
“That is why inflation is now 3.9%, one of the lowest in the world,” the President said in a statement last night.
He assured the country that “Things are moving well in Uganda in spite of the corruption of some Public Servants and some elements of the political class.”
He said that Uganda will develop with or without loans.
“Many of the loans in the past were being carelessly entered into by official behind my back when they were completely unnecessary. That is why some years ago i put down my foot and forbade agreeing to any loan before my approval. Hence, we are now borrowing less and cautiously. Yet, our economy is growing, other global challenges such as there was in Europe, corona, etc, not withstanding. If there is absolute need for borrowing, there are a number of non-Bretton sources from where we can borrow,” he said adding that “Our first oil will start flowing by 2025.”
“That will be an additional source of state revenues and also financial flows into the economy.”
“It is, therefore, unfortunate that the World Bank and other actors dare to want to coerce us into abandoning our faith, culture, principles and sovereignty, using money. They really under-estimate all Africans. We do not need pressure from anybody to know how to solve problems in our society. They are our problems,” he said.
According to the President, “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, however, said that “We are continuing to talk with the World Bank so that both they and we avoid this diversion if possible.”
We don’t need pressure from anybody to know how to solve problems in our society – Museveni
