Governor failed the economy – FDC

The Opposition Forum for Democratic Change (FDC) yesterday accused former Governor of Bank of Uganda Emmanuel Tumusiime-Mutebile of failing to stabilise the economy despite his expertise in economics.

Addressing journalists at their offices in Najjanankumbi, the FDC party president, Mr Patrick Oboi Amuriat, said the country’s interest rates remained high and the country is highly indebted.

Mr Amuriat said Mutebile is partly to blame for the struggling economy and poor health services.

“To explain this, the country borrows more than Shs7 trillion annually to pay salaries of government employees and to fund other recurrent expenditure. That is partly what has kept the Interest rates high, because private people are competing with government,” Mr Amuriat said.

Mr Amuriat cited the first cash bailout to Hassan Basajjabalaba, the then NRM chairman for entrepreneur’s league, among others.

 “We believe Mutebile was held hostage and struggled throughout his tenure at Bank of Uganda to stabilise the Shilling he undermined by printing extra money to sustain the regime. Because of the over-hatching influence of the regime on Bank of Uganda, the economy is on drip despite being a highly-qualified personality in economics,” Mr Amuriat said.

He added that the country was in shock in 2019 following a scandal of an illegal currency-filled flight at Entebbe airport, which money he said was printed during the late’s regime and no one has come out to explain the whereabouts of that money.

Achievements

Meanwhile, Mr Amuriat said the party does not under-look Mutebile’s achievements, terming him as one of the most professional economists the country has had.

He added that Mutebile should not have died in office, adding that the government should have relieved him of his duties  while he was unwell.

Mutebile died on Sunday morning at Nairobi Hospital.

FDC threaten to strike over fuel prices

At the same function, FDC vowed to demonstrate if the fuel prices do not stabilise by the end of next week.

Mr Amuriat said the fuel crisis was introduced when government put in place Covid measures that are unsustainable. He said it was not logical to demand $30 for Covid-19 testing from truck drivers who have already been tested elsewhere.

 “We told the country that Museveni and his agents are treating Covid as a very big enterprise,” he added.

Fuel prices in the country have remained high for the last one month with the price of petrol shooting from Shs3,800 to Shs6,000.

Meanwhile, the party yesterday started the internal nomination for its candidates who will participate in the forthcoming elections of the East African Legislative Assembly.

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