The IMF Executive Board has approved a $491.6m disbursement to the Museveni government to help him address the COVID-19 pandemic.
In a press release dated May, 6 2020 the IMF confirmed it had approved the emergency fund as a response to Museveni’s recent appeal for international relief to help him tackle the economic injustices created by the novel Corona virus disease. The said fund is supposed to finance the health sector, boost the social security, address macroeconomic stabilization measures and meet urgent balance of payments and fiscal needs arising from the COVID-19 pandemic.
Whereas the Ugandan economy has been severely hit in key sectors like tourism, leisure and hospitality, agriculture and the informal sector, the fund would be a good gesture if only it addresses these fragile points. With Museveni’s history of corruption and mismanagement of public funds, it is obvious that he will not take heed to the IMF proposals. He will instead channel the money to bribing the NRM caucus MPs who he earlier briefed at State house Entebbe about this very money. His other target will be investing more in security which at the moment is playing a pivotal role in cracking down on the opposition politicians.
The supplementary budget for COVID-19 has itself heavily benefited Mr. Museveni and his close allies. Adding him the IMF disbursement will be of great importance to sustain his prolonged stay. Museveni will not lift the lockdown for as long as he gets these foreign packages to battle the pandemic. Ugandans will heavily pay price with their lives since the majority are already starving in their homes and the food itself is said not to be enough.