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IMF $1 Billion Loan To Uganda: How the Bank Undermines Democratization While Aiding and Abetting Corruption

IMF Managing Director Kristalina Georgieva. See no evil, hear no evil. Photo: Wikimedia Commons. The International Monetary Fund (IMF), which approved a $1 billion loan to Uganda on Monday is undermining the forces of democracy in the East African nation, while also aiding and promoting corruption and human rights abuses. The loan is to be disbursed over time, beginning with an immediate infusion of $258 million according to a press release from the bank, so perhaps there’s still time to restore sanity to the process.   The money, in addition to shoring up Uganda’s economy which has retrenched due to the Covid-19 disruptions is also meant to fight the pandemic. It’s true that Uganda, like most African countries has been severely negatively impacted by Covid-19. However, the main constraint in fighting the disease has been corruption, which goes up all the way to the country’s dictator Gen. Yoweri Museveni. 

EU sanctions alone may not resolve our problems

Daily Monitor Sunday February 21 2021 Summary Similarly, Ugandan security officers violating rights unlike Russian oligarchs are not bothered about the prospects of being denied access to Europe. Advertisement The most awkward weaknesses of Western thinkers is their inability to strategically domesticate their ideologies in Africa. The thinking that if it worked in Ukraine, it will work in Uganda is careless. The January general election – that NRM’s Yoweri Museveni was announced winner followed by NUP’s Robert Kyagulanyi – was by far the most violent election in Uganda’s history. NUP candidate Robert Kyagulanyi, aka Bobi Wine, was assumed to enjoy support from the international community.

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