Besigye slams IMF over $491 million loan to Uganda

Uganda’s opposition leader Dr. Kizza Besigye has bashed the International Monetary Fund (IMF) for approving a loan to Uganda’s government worth US$491.5 Million for economy boosting following the COVID-19 pandemic. According to the former presidential candidate, he expressed fear for another scandal since the mafias are still fighting for the previous amount.

“When €600m borrowed recently is still fuelling Mafia wars within the NRM/M7 Junta, scrambling for the pickings, the IMF puts more cash on table!” Besigye said. He goes on to add that the country’s problem right now isn’t about finance but poor governance.

“Can IMF claim to be ignorant of the humongous governance problems the country is burdened with? The fundamental problem that needs fixing is governance and not money. This money would make it harder to fix the governance problem as it’ll go into paying greater militia forces to terrorise Ugandans.” he added.

Besigye was reacting to an article on the official website of the IMF ‘IMF Executive Board Approves a US$491.5 Million Disbursement to Uganda to Address the COVID-19 Pandemic’ in which the organization indicated that the country’s economy was badly hit.

“The Ugandan economy is being severely hit by the COVID-19 pandemic and, in particular, such key sectors as services (tourism), transport, construction, manufacturing and agriculture. The challenging external environment is curtailing remittances and foreign direct investments. The pandemic has also exacerbated the challenges posed by heavy rains in early 2020 and the ongoing locust invasion” reads part of the statement.