My analysis
In trying to divert us from the recent exposition
of the Ugandan government as a corrupt and rotten regime, the IMF, an institution controlled by the American new
world order system is trying to create the deception that the government is
doing okay. The million dollar questions are; of what use is increased economic
growth that is enjoyed by less than 10 percent of the population? What is the
use of increased economic growth that
can not be translated into improved welfare of the citizens? What is the use of
increased growth amidst endemic and systemic corruption ? We need to bear in
mind the fact that economic growth is a necessary but not a sufficient
condition of development . The minds that control the American new world order neo-liberal system are very worried
that the Museveni’s government( a mercenary regime of the American new world
order system) has been exposed as a rotten corrupt regime that is a participant in the confusion in the DR Congo. So,
in order to destruct people from this reality, you create a destruction such
Ebola, Marburg
or increased growth.
FIRST READ:
Norway, Sweden cut aid to Uganda , Bigirimana stays
Uganda’s transition from Corruption to robbery : Denmark and UK suspend Aid to Uganda over fraud allegations
http://watchmanafrica.blogspot.com/2012/11/ugandas-transition-from-corruption-to.html
Uganda legislators Clash with Museveni over Bigirimana: Mps insist he must go while Museveni insists he must stay
http://watchmanafrica.blogspot.com/2012/11/uganda-legislators-clash-with-museveni.html
The US Under Secretary for Political Affairs, Wendy Sherman current visit to the Great Lakes region: A manifestation of the hypocrisy and double standards of the US new world order system
http://watchmanafrica.blogspot.com/2012/11/the-us-under-secretary-for-political.html
Can a slave state for the American New World order system put its BOSS on ransom : Uganda Government insists threat to recall troops from Somalia
http://watchmanafrica.blogspot.com/2012/11/can-slave-state-for-american-new-world.html
When the United Nations exposed itself as a CLIENT STATE of the American New World order system: United Nations distances itself from Congo report: Mean while report accuses Ugandan generals and UPDF for supporting M23 rebels
IMF says Uganda's economy to grow by 5 percent
Publish Date: Nov 07, 2012
KAMPALA - Uganda's economy is set to expand
by 5 percent in the 2012/13 fiscal year from 3.4 percent in the previous
period, driven by falling lending rates and higher government spending, the IMF
said on Tuesday.
"GDP growth is projected to increase to 5 percent this fiscal year, with core inflation averaging about 6 percent," the International Monetary Fund said of the East African Nation that discovered oil in 2006 and expects to start production in 2017.
Potential delays in planned infrastructure projects and any problems in the country's trading partners could however pose risks to its growth outlook, the Washington-based fund said in a statement.
It said fresh inflation pressure could come from "food price and exchange rate pass through effects." Inflation peaked at 30 percent in October last year on the back of high food and fuel prices.
Uganda raised interest rates aggressively last year to combat inflation and prop up the shilling currency, but has since cut its policy rate by 10.5 percentage points this year to 12.5 percent.
The central bank has since managed to bring it down using a very tight monetary policy stance. The rate fell to 4.5 percent last month from 5.5 percent in September.
The IMF said Uganda needed to improve its business climate, strengthen tax collections and make effective use of revenues to be able to drive economic growth to its true potential of around 7 percent.
African economy at its best
Publish Date: Nov 07, 2012
By Paul Busharizi
Africa’s economy is in the best shape it has ever been and is attractive to international investors. However, the continent should not squander this with over borrowing and poor management of that debt.
Africa’s economy is in the best shape it has ever been and is attractive to international investors. However, the continent should not squander this with over borrowing and poor management of that debt.
“As international aid money becomes a challenge, African governments need to work harder to tap international markets for funds. The appetite is there, Africa’s risk profile is better,” said African Development Bank (AfDB) president Donald Kaberuka ahead of his talk at a Bank of Uganda-sponsored public lecture at the Kampala Serena Hotel on Tuesday.
“The challenge will be to build domestic debt market capabilities and manage this debt prudently, if not, there is the risk of going the way of the Asian crisis of 1997.”
In the 1997, an Asian crisis erupted after a series of currency devaluations made it difficult for southeast Asian countries to service their hard currency loans, sending their economies into a tailspin that they are yet to recover from.
Kaberuka, who was to deliver the key note address at the event yesterday, said the continent’s challenge is to transform economic growth into improved welfare for its citizens.
“The single most decisive factor in economic transformation is the provision of quality education, especially for the children of the poor,” he said.
Kaberuka argued that quality education for the poor would ensure that there is no trans-generational transmission of poverty and that the new generation will be better able to benefit from the coming explosion in economic development on the continent, driven by the jump in the capacity to consume when a new productive class comes of age in coming years.
ALSO SEE
FIRST READ:
Regime Change at the IMF: The
Frame-Up of Dominique Strauss-Kahn?
http://watchmanafrica.blogspot.com/2011/05/regime-change-at-imf-frame-up-of.html
Strauss-Kahn Affair: Unanswered Questions. Who was Pulling the Strings behind the Scenes
http://www.globalresearch.ca/index.php?context=va&aid=25478
http://watchmanafrica.blogspot.com/2011/05/regime-change-at-imf-frame-up-of.html
Strauss-Kahn Affair: Unanswered Questions. Who was Pulling the Strings behind the Scenes
http://www.globalresearch.ca/index.php?context=va&aid=25478
