The Forum for Democratic Change – FDC President Patrick Oboi Amuriat has attacked the fallen Bank of Uganda Governor, Emmanuel Tumusiime Mutebile, for dying in office.
Amuriat says Mutebile was held hostage by President Yoweri Museveni and “struggled throughout his tenure at Bank of Uganda to stabilize the shilling he undermined by printing extra money to sustain the regime.”
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“Because of the over hatching influence of the regime on the bank of Uganda, the economy is on drip,” he said on Monday.
He added that Uganda borrows more than Shs 7 trillion annually to pay salaries of government employees and to fund other recurrent expenditures.
“That is partly what has kept interest rates high because private people are competing with the government. As a central bank governor, he has been the regime’s principal economic advisor and he takes a big share of the blame for its failed economic policies. The Bank of Uganda was turned into a Museveni wallet.”
“Remember the first Shs 19 billion bailouts to Bassajjabalaba, NRM chairman for entrepreneur’s league then and the Shs 142 billion fictitious compensation to the same man.”
Museveni re-appointed Mutebile as the governor of the Bank of Uganda for the fifth term in January 2021 despite deteriorating life rumours.
Prof. Mutebile died in the wee hours of Sunday at Aghakhan Hospital, Nairobi on life support.
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