You have no money to begin with, stupid!
By Fredrick Mugira, AfricaNews
KAMPALA, UGANDA – Uganda is immune from the ongoing world financial crisis, President Yoweri Museveni has assured the nation. He assured investors that the financial systems of the country are strong and sound. The president emphasized that there is no need to panic following the current global financial plunge.
Speaking at the just ended 46th Independence anniversary celebrations at Kololo ceremonial grounds in Kampala, he stressed that the country’s financial sector had been regulated and banks have been following prudent lending procedures.
The colorful function that was attended by delegations from Burundi, Kenya, Tanzania, Rwanda and Somalia, also witnessed the inauguration of the new colors of the Uganda People’s Defense Forces (UPDF) flag by the President.
The president said the immediate spill over effects would however be minimal in the short run. Museveni pointed out that although Uganda’s exports, particularly to European and American markets, may be reduced if the world economy goes into recession, they will, however, end up in regional markets following the diversification of the exports.
On poverty eradication, the President directed NAADS and Uganda Investment Authority as well as the ministry responsible for industry and that of finance to ensure that all agricultural products in Uganda are processed.
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Museveni is hallucinating and also lying to the people of Uganda, countries like Uganda don't have a self sustaining economy, the current financial crisis is already hitting them hard because they won't get what they were always used to, loans from the IMF and world bank, the banks themselves are in a panic and there won't be anymore free lunch for the likes of Museveni and Zenawi anymore, now the true weakenss of economies whose life line depended on the largesse of Europeans and Americans will start to show. This economic hardship is just the beginning, what will follow is a true economic hardship. Unfortunately the people are the first to suffer the impact of the global economic meltdown that is sure to come shortly. All the African puppet leadersh who were belitteling the Eritrean leadership for emphasizing food self sufficiency and innovation to improve peoples lives, Eritrea's strategy is working while the puppet regimes who staked their livelihood on donated and borrowed money will soon see the folly of their choice. This is what happens when leaders in Africa voluntarily sell out to be neo-colonial enablers, the people suffer and history will judge them harshly.
October 12th, 2008 at 2:42 PM